At the beginning of July, CD City has a balance in inventory of $2,900. The following transactions occur during the month of July. July 3 Purchase CDs on account from wholesale Music for $1,800, terns 2/10,n/30. July 4 Pay cash for freight charges related to the July 3 parchase from Wholesale Music, $100. July 9 Return incorrectly ordered CDs to Wholesale Music and receive eredit, $300. Jaly 11 Pay Wholesale Music in full. July 12 Sell CDs to customers on account, $4,800, that had a cost of $2,500. July is Receive full payment from customers related to the gale on July 12 . July 18 Purchase CDs on account from Music supply for $2,600, terms 1/10,a/30. July 22 Sel1 CDs to customera for canh, $3,700, that had a cost of $2,000. July 28 Return CDs to Masic supply and receive eredit of $200. July 30 Pay Music 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 transactionjevent, select "No Journal Entry Required" in the first account field.) 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 t 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 mor