CH6 Questions 14 -15 (of 17) The following information applies to the questions displayed below. At the beginning of July, CD City has a balance in Inventory of $2,600. The folowing transactions occur during the month of July July 3 Purchase CDs on account from Wholesale Music for $1,500, terms 110, n/30. ht charg es related to the July 3 purchase from Wholesale M usic, $110. July 9 Return incorrectly ordered CDs to Wholesale Music and receive credit, $200 July 11 Pay Wholesale Music in full July 12 Sell CDs to customers on account, $4,200, that had a cost of $2,200 July 15 Recelive full payment from customers related to the sale on July 12. July 18 Purchase CDs on account from Music Supply for $2,300, terms 1/10, n/30. July 22 Sell CDs to customers for cash, $3,400, that had a cost of $1,700. July 28 Return CDs to Music Supply and recelve credit of $140. July 30 Pay Music Supply in full value 10.00 points