3 The following merchandise transactions occurred in December. Both companies use a perpetual Inventory system. Record purchase and sales transactions and determine merchandise inventory--perpetual system. Dec. 3 Jun Company sold merchandise to Valeriya Co. for $33,000, terms 2/10, n/30, FOB destination. This merchandise cost Jun Company $15,000. 4 The correct company paid freight charges of $330. 8 Valeriya Co. returned unwanted merchandise to Jun. The returned merchandise had a sales price of $1,300 and a cost of $930. It was restored to inventory. 13 Jun Company received the balance due from Valeriya Co. Instructions a. Prepare the journal entries to record these transactions on the books of Jun Company. b. Prepare the journal entries to record these transactions on the books of Valeriya Co. c. Assuming that Valeriya Co. had a balance in Merchandise Inventory on December 1 of $4,000, determine the balance in the Merchandise Inventory account at the end of December for Valeriya Co. Hint - Use a Tee a/c and post all of your J/E's and add it up to total your answer. Inv 1 2 3 4 75 76 77 78 0 0 0 0 79 0 80 81 82