Check my work Part 1: Consider the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, record the sale on June 1 in Accounts Receivable-Avery & Wiest. June 1 Sold merchandise to Avery & Wiest for $10,000; terms 1/5, n/15, FOB destination (cost of sales $7,158). 2 Purchased $5,400 of merchandise from Angolac Suppliers; terms 3/10, n/20, FOB shipping point. 4 Purchased merchandise inventory from Bastille Sales for $12,400; terms 3/15, n/45, FOB Bastille Sales. Sold merchandise to Gelgar for $12,000; terms 1/5, n/15, FOB destination (cost of sales $8,200) 6 Collected the amount owing from Avery & Wiest regarding the June 1 sale. 12 Paid Angolac Suppliers for the June 2 purchase. 20 Collected the amount owing from Gelgar regarding the June 5 sale. 30 Paid Bastille Sales for the June 4 purchase. ences 5 Prepare General Journal entries to record the above trancartine View transaction list Journal entry worksheet ok Record the sales; terms 1/5, n/15, FOB destination. ences Note: Enter debits before credits Date General Journal Debit Credit June 01 Journal entry worksheet Record the cost of sales. Note: Enter debits before credits. Date General Journal Debit 16 Journal entry worksheet 3 1 9 5 4 2 10 6 7 8 Record the purchase of merchandise; terms 3/10, n/20, FOB shipping point. ces Journal entry worksheet Record the sales; terms 1/5, n/15, FOB destination. Book erences Note: Enter debits before credits. Date General Journal Debit Credit June 05 2 Journal entry worksheet Record the collection for Avery & Wiest. y Book erences Note: Enter debits before credits Journal entry worksheet