Amuse Me Co. buys and sells new and used equipment for amusement parks, carnivals, parks, and zoos. Prepare general journal entries to record the following perpetual system merchandising transactions of Amuse Me Co. Use a separate account for each receivable and payable; for example, record the purchase on July 3 in Accounts PayableCMP Corp.

July 3 Purchased bumper cars from CMP Corp. for $32,000 under credit terms of 1/10, n/30, FOB destination.

July 4 At CMPs request, paid $1,500 for freight charges on the July 3 purchase, reducing the amount owed to CMP.

July 7 Sold cotton candy machines to West Coast Zoo for $21,000 under credit terms of 2/10, n/60, FOB destination. The merchandise had cost $17,500.

July 10 Purchased snow cone machines from Cimarron Corporation for $29,300 under credit terms of 1/10, n/45, FOB shipping point.

July 11 Correct company paid $1,200 shipping charges related to the July 7 sale to West Coast Zoo.

July 12 West Coast Zoo returned merchandise from the July 7 sale that had cost $2,500 and been sold for $3,500. The merchandise was restored to inventory.

July 14 After negotiations with Cimarron Corporation concerning problems with the merchandise purchased on July 10, received a credit memo from Cimarron granting a price reduction of $4,100.

July 17 Received balance due from West Coast Zoo for the July 7 sale.

July 18 Sold for cash a piece of vacant land for its original cost of $62,000.

July 19 Purchased a used van for the business, $28,000; paid cash of $10,000 and borrowed the balance from the bank.

July 20 Paid the amount due Cimarron Corporation for the July 10 purchase.