British Columbia Institute of Technology FMGT 1100 - Accounting 1 C. PERPETUAL JOURNAL ENTRIES (14 Marks) Quinton Landscaping sells mowers and other lawn maintenance equipment. The following information relates to its inventory of mowers, which is accounted for using the perpetual inventory method: June 3 Purchased 35 mowers at $ 400 each from Keep-It-Green Equipment; terms 2/10, net 30, FOB shipping point. The correct company paid freight of $ 1,200 on the June 4 purchase. 10 Returned 4 of the mowers purchased on June 3. Paid the Keep-It-Green account in full. Instructions a) Prepare the journal entries to record these transactions. Determine the ending balance in the Merchandise Inventory account at June 30. (There was no inventory at the beginning of the period.) 819