4:12:11 ences 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 $9,700; terms 2/5, n/15, FOB destination (cost of sales $6,850). 2 Purchased $5,100 of merchandise from Angolac Suppliers; terms 3/10, n/20, FOB shipping point. 4 Purchased merchandise inventory from Bastille Sales for $11,800; terms 3/15, n/45, FOB Bastille Sales. 5 Sold merchandise to Gelgar for $11,400; terms 1/5, n/15, FOB destination (cost of sales $7,900). 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 June 4 purchase.

Prepare General Journal entries to record the above transactions.