The Zhang Company uses the perpetual inventory system. Record the transactions in a two-column journal. All credit sales are n/30.

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202X July 5 Purchased merchandise on account totaling $2,000; terms n/30. 6 Sold merchandise on account to Tommy Lee for $70. This merchandise cost $52. Returned $150 of defective merchandise purchased July 5. 8 Sold $140 of merchandise for cash. This merchandise cost $93. Allowed a return for credit of $9 of merchandise sold on July 6. The cost of the returned merchandise was $8. (Hint: Don't forget to return the cost of the merchandise to the Merchandise Inventory account.) 9 9 10 Purchased $1,000 of merchandise on account from RJ Supply; terms n/30. 12 Received payment from Tommy Lee for the July 6 sale less the return. Sold $360 of merchandise for cash. The cost was $350. 13