At the beginning of June $2024,$ Culver Distributing Company$$s ledger showed Cash $$19,000,$

Merchandise Inventory $$5,700,$ and D$.$ Culver, Capital $$24,700.$ During the month of June, the

company had the following selected transactions:

June $1$ Purchased $$9,100$ of merchandise inventory from Sun Supply Co$.,$ terms $1/15,$

n$/30,$ FOB destination.

$2$ The correct company paid $$220$ cash for freight charges on the June $1$ purchase.

$5$ Sold merchandise inventory to Moose Jaw Retailers for $$13,000.$ The cost of the

merchandise was $$7,200$ and the terms were $2/10,$ n$/30,$ FOB destination.

$6$ Issued a $$750$ credit for merchandise returned by Moose Jaw Retailers. The

merchandise originally cost $$415$ and was returned to inventory.

$6$ The correct company paid $$300$ freight on the June $5$ sale.

$7$ Purchased $$840$ of supplies for cash.

$10$ Purchased $$3,750$ of merchandise inventory from Fey Wholesalers, terms $2/10,$

n$/30,$ FOB shipping point.

$10$ The correct company paid $$110$ freight costs on the purchase from Fey

Wholesalers.

$12$ Received a $$250$ credit from Fey Wholesalers for returned merchandise.

$14$ Paid Sun Supply Co$.$ the amount due.

$15$ Collected the balance owing from Moose Jaw Retailers.

$19$ Sold merchandise for $$7,400$ cash. The cost of this merchandise was $$4,700.$

$20$ Paid Fey Wholesalers the balance owing from the June $10$ purchase.

$25$ Made a $$520$ cash refund to a cash customer for merchandise returned. The

returned merchandise had a cost of $$330.$ The merchandise was damaged and

could not be resold. Set up general ledger accounts for Merchandise Inventory, Sales, Sales Returns and Allowances, Sales Discounts, and Cost of

Goods Sold. Enter the beginning Merchandise Inventory balance, post the transactions, and calculate the balances for each

account. $($Post entries in the order of journal entries presented in the previous part.$)$