At the beginning of July, CD City has a balance in inventory of $2,750. The following transactions occur during the month of July. Jaly 3 Purchase c0a on acectnt tron Wholeale Muede for 51,650, terma 2110 , n/39. July 4 Pay eash for frelght charges related to the July 3 purchase from wholesale Music, 5110. July 9 Rtturn ibcorrestly erdered chs to Mholesale Hanle and receive eredit, $200. Tuly. 11 Phy wholenale Nuite in full. tuly 12 sel1 cDe to cuntomers on aocount, 54,500 , that had a cont of 12,350 . July is Heceive fult payent frea eustaners rolated to the sale on July 12. July 18 Purchane cos on acoovant fron Nasie sepply for $2,450, terma 2/10,n/30. duly 22 sell cos to euetosers tor canh, 51,550 , that had eost of 81,350 . July 28 Return ces to Masio supely and receive eredit of 0170 , duly 30 pay turio sapply in fuld. Required: 1. Assumind that CD Cify uses a perpetubl inventory system, record the transactions 2. Prepare the top section of the multiple-step income statement through gross profit for the manth of July. Complete this question by entering your answers in the tabs thelow. Assuming that CD City uses a perpetual inventory system, record the transactions. (1f no entry is requlred foc a transaction/event; select "No Journal Entry Repuired" in the first account field.)