At the beginning of July, CD City has a balance in inventory of $2,950. The following transactions occur during the month of July. July 3 Purchase cos on account from Wholesale Music for $1,850, terms 2/10,n/30. July 4 Pay cash for freight charges related to the July 3 purchase from hholesale Music, $110. July 9 Roturn incorrectly ordered CDs to Wholesale Nusic and recelve credit, $200. July 11 Pay Wholesale Music in full. July 12 sell cDs to customers on account, $4,900, that had a cost of $2,550. July 15 Receive full payment from customers related to the sale on July 12 . July 18 Purchase CD on account from Music Supply for $2,650, terms 2/10,n/30. July 22 Soll CDs to customers for cash, $3,750, that had a cost of $2,050. July 28 Return CDs to Music Supply and receive credit of $210. July 30 Pay Masic Supply in full. Required: 1. Assuming that CD City uses a perpetual inventory system, record the transactions. 2. Prepare the top section of the multiple-step income statement through gross profit for the month of July. Complete this question by entering your answers in the tabs below. Assuming that CD City uses a perpetual inventory system, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Complete this question by entering your answers in the tabs below. Prepare the top section of the multiple-step income statement through gross profit for the month of July