50 points PrintReferencesItem 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 find net sales and gross profit 1 in Accounts ReceivableAvery & Wiest. June 1 Sold merchandise to Avery & Wiest for $9,850; terms 2/5, n/15, FOB destination (cost of sales $7,000). 2 Purchased $5,250 of merchandise from Angolac Suppliers; terms 2/10, n/20, FOB shipping point. 4 Purchased merchandise inventory from Bastille Sales for $12,100; terms 3/15, n/45, FOB Bastille Sales. 5 Sold merchandise to Gelgar for $11,700; terms 1/5, n/15, FOB destination (cost of sales $8,050). 6 Collected the amount owing from Avery & Wiest regarding the June 1 sale. 12 Paid Ang