At the beginning of June, Circuit Country has a balance in inventory of $2,200. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $1,900, terms 1/15, n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, $240. June 8 Return defective radios to Radio World and receive credit, $400. June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $3,400, that had a cost of $2,400. June 18 Receive payment on account from customers, $2,400. June 20 Purchase radios on account from Sound Unlimited for $3,000, terms 3/10, n/30. June 23 Sell radios to customers for cash, $4,500, that had a cost of $2,800. June 26 Return damaged radios to Sound Unlimited and receive credit of $500. June 28 Pay Sound Unlimited in full. Required: 1. Assuming that Circuit Country 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. Complete this question by entering your answers in the tabs below. View transaction list Journal entry worksheet 1 2 3 4 56 7 8 12 > Record purchase of radios on account from Radio World for $1,900, terms 1/15, n/45. Note: Enter debits before credits. Date June 02 General Journal Debit Credit View general journal Clear entry Record entry 1 Record purchase of radios on account from Radio World for $1,900, terms 1/15, n/45. 2 Record payment of cash for freight charges related to the June 2 purchase from Radio World, $240. 3 Record return of defective radios to Radio World and receipt of credit, $400. 4 Record payment to Radio World in full. 5 6 Sell radios to customers on account, $3,400, that had a cost of $2,400. Record the sale of inventory on account. Sell radios to customers on account, $3,400, that had a cost of $2,400. Record the cost of inventory sold. 7 Record receipt of payment on account from customers, $2,400. 8 Record purchase of radios on account from Sound Unlimited for $3,000, terms 3/10, n/30. 9 Sell radios to customers for cash, $4,500, that had a cost of $2,800. Record the sale of inventory for cash. 10 Sell radios to customers for cash, $4,500, that had a cost of $2,800. Record the cost of inventory sold. 11 Record return of damaged radios to Sound Unlimited and receipt of credit of $500. 12 Record payment to Sound Unlimited in full. Required 1 Required 2 Prepare the top section of the multiple-step income statement through gross p CIRCUIT COUNTRY Multiple-Step Income Statement (partial) For the Month of June