At the beginning of June, Chow Company has a balance in inventory of $2,850. The following transactions occur during the month of June. June 2 Purchase radios on account from Air One for $2,550, terms 2/15, n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Air One, $370. June 8 Return defective radios to Air One and receive credit, $200. June 10 Pay Air One in full. June 11 Sell radios to customers on account, $4,700, that had a cost of $3,050. June 18 Receive payment on account from customers, $3,700. June 20 Purchase radios on account from Motion Unlimited for $3,650, terms 2/10, n/30. June 23 Sell radios to customers for cash, $5,150, that had a cost of $3,450. June 26 Return damaged radios to Motion Unlimited and receive credit of $500. June 28 Pay Motion Unlimited in full. Required: 1. Assuming that Chow Company 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 June.