16. Ernie's Bicycle Shop uses a perpetual inventory sales transactions during June: (10 points) system and had the following June 2 Sold merchandise to customers on credit for $1,3 2/10 net 30. The items sold had a cost of $850. of the June 5 Customers returned merchandise originally sold for $120. The cost merchandise returned was $80. June 9 The customer paid for the merchandise sold on June 2, ande appropriate discount. Prepare the journal entries that Ernie should record for these transactions. Credi Debit Date Description