During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Purchased goods for $4,700 from Diamond Incorporated with terms 2/10, n/30. June 5 Returned goods costing $1,400 to Diamond Incorporated for credit on account. June 6 Purchased goods from Club Corporation for $1,150 with terms 2/10, n/30. June 11 Paid the balance owed to Diamond Incorporated. June 22 Paid Club Corporation in full. Required: Prepare journal entries to record the transactions, assuming Ace records discounts using the net method in a perpetual inventory system. Forfeited discounts are charged to Other Operating Expenses. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. General Journal No Debit Credit Date June 03 1 4,700 Inventory Accounts Payable 4,700 2. June 05 1,400 Accounts Payable Inventory 1,400 3 June 06 1,150 Inventory Accounts Payable 1,150 4 June 11 3,300 Accounts Payable Inventory Cash 99 X 3,201 5 June 22 1,150 Accounts Payable Cash x 1,150