Record merchandising transactions: perpetual inventory system. (LO 1, 2) The Fedora Company had a beginning inventory balance

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Record merchandising transactions: perpetual inventory system. (LO 1, 2) The Fedora Company had a beginning inventory balance of $\$ 25,750$ and engaged in the following transactions during the month of June.

June 2 Purchased $\$ 4,000$ of merchandise inventory on account from Plumes Incorporated with terms $2 / 10, n / 30$ and FOB destination. Freight costs associated with this purchase were $\$ 225$.

June 4 Returned $\$ 400$ of damaged merchandise to Plumes Incorporated June 6 Sold $\$ 7,000$ of merchandise to Fancy Caps on account, terms 1/15, n/30 and FOB shipping point. Freight costs were $\$ 125$. The cost of the inventory sold was $\$ 3,500$.

June 9 Paid the amount owed to Plumes Incorporated June 10 The Fedora Company granted Fancy Caps an allowance on the June 6 sale of $\$ 300$ for minor damage found on several pieces of merchandise.

June 22 Received total payment owed from Fancy Caps June 24 Paid sales salaries of $\$ 1,850$

June 25 Paid the rent on the showroom of $\$ 1,200$

Enter each of the transactions for the Fedora Company into the accounting equation, assuming they use a perpetual inventory system.

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