Blue Spruce Warehouse distributes suitcases to retail stores and extends credit terms of n/30 to all of its customers. Blue Spruce Warehouse uses a perpetual inventory system and the earnings approach. At the end of June, its inventory consisted of 40 suitcases purchased at $30 each. During the month of July, the following merchandising transactions occurred: July 1 Purchased 50 suitcases on account for $30 each from Trunk Manufacturers, terms 30,FOB destination. 2. The correct company paid $120 freight on the July 1 purchase: 4 Received $150 credit for five suitcases returned to Trunk Manufacturers because they were damaged. 10 Sold 45 suitcases that cost $30 each to satchel World for $60 each on account. 12 Issued a $300 credit for five suitcases returned by Satchel World because they were the wrong colour. The suitcases were returned to inventory. 15. Purchased 60 additional suitcases from Trunk Manufacturers for $27.50 each, terms n/30, FOB shipping point. 18 Paid $150 freight to AA Trucking Company for merchandise purchased from Trunk Manufacturers. 21 Sold 63 suitcases that cost $30 each to Fly.By-Night for $60 each on account: 23 Gave Fly-By-Night a $120 credit for two returned suitcases. The suitcases had been damaged and were sent to the recyclers. 30 Paid Trunk Manufacturers for the July 1 purchase. 31 Received balance owing from Satchei Worid. Record the transactions for the month of July for Blue Spruce Warehouse. (Credit occounk ticles are automaticolly indented when the amount is entered, Do not indent mancally if no enby ls requited, select "No Entry" for the accounit tithes and anter of for the amounte Recond joumol antries in the order presented in the problem. Lst oll deblt enbries before credit entries.). (To record sales return.) (To record cost of goods returned.) (To record sales on account) (To record cost of goods sold) Sasn for Later