Exercise 8 Jabari Company purchases various types of beach toys for sale to consumers. Listed below arethe transactions for the month of June. Jabari uses a perpetual inventory system. Jun 1 Purchased 18 water tubes for $250 each terms n/30 FOB destination. 8 Returned 2 tubes purchased on June 1 due to defects. Received a full refund for thedefective tubes. 10 Freight charges of $85 for the June 1 transaction are paid by the responsible party. 11 Made a complaint about competitive pricing. Received a $200 credit for the watertubes purchased on June 1. 15 Purchased 92 water tubes for $225 each terms 2/10n/30 18 Made payment for the amount owing for the June 1 transaction. 20 Made payment for the amount owing for June 15 transaction. Instructions a) Journalize transactions using the perpetual inventory system. [14 marks] b) Determine the balance of the Inventory account for June. (There was no inventory at thebeginning of the period). [2 marks]