3 Part 1: Consider the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, record the sale on June 1 in Accounts Receivable Avery & Wiest. June 1 Sold merchandise to Avery & Wiest for $9,950; terms 2/5, n/15, FOB destination (cost of sales 37,100) 2 Purchased $5,350 of merchandise from Angolac Suppliers; teres 2/10, 1/20, FOB shipping point. 4 Purchased merchandise inventory from lastille Sales for $12,300; teres 1/15, 1/45, FOB Bastille Sales. 5 Sold merchandise to Gelgar for $11,900; teres 2/5, 1/15, FOB destination (cost of sales $8,15e). 6 Collected the amount owing from Avery & Wiest regarding the June 1 sale. 12 Paid Angolac Suppliers for the June 2 purchase. 20 Collected the amount owing from Gelgar regarding the June 5 sale. 30 Paid Bastille Sales for the Dune 4 purchase Prepare General Journal entries to record the above transactions. View transaction list View journal entry worksheet Part 2: Based on the information provided above, calculate the following: a. Calculate Net sales. Net sales b. Calculate Cost of goods sold. Cost of goods sold c. Calculate Gross profit from sales. Gross profit from sales