explain how Mathis Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of Aprit a. On Aprit 1, Mathis purchased merchandise on account from Reece with credit terms of 2/10, n/30. The sisiling prico of the merchandise was $3,800, and the cost of the merchandise sold was $2,450. b. On April 1, Mathis pald frelght charges of 5100 cash to have the goods delivered to its warchouse. C. On April 8, Mathis returned $1,000 of the merchand 50, which had originally cost Reece $700. d. On April 10, Mathis pald Reece the balance due..