E5-4A. Journal Entries for Merchandise Transactions on Seller's and Buyer's Books-Perpetual tem The following are selected transactions for Lamont, Inc., during the month of June: June 21 Sold and shipped on account to Lowery Company, $3,000 ($2,000 cost) of merc se, with terms of 2/10, n/30. Lowery Company returned defective merchandise billed at $300 on June 21 (S210 28 cost ). 30 Received from Lowery Company a check for full settlement of the June 21 tran Required Prepare the necessary journal entries for (a) Lamont, Inc., and (b) Lowery Company. Both companis use the perpetual inventory system