fartord Jeweiers uses a perpetual inventory systam and had the following purchase transactions. Joumalize all noocssary fransactions Explanatons are not roquired i) (Click the ioon ta view the transactions.) Jul. 14. Paid Slater Diamonds, less retum. Jul. 16. Purchased iwentory of $,600 on acoount from Schmit Dianonds, a fowily importec. Tems were 310, NEOM, FCE desinaton Jul. 18. Fleceived a 5700 allowance from Schenat Dankonds for damaged but ulablo goodt Ju. 24: Paid Schme Diamonde, thes oltivanai and danount. Jul. 16: Purchased inventory of $4,600 on account from Schmitt Diamonds, a jewelry importer. Terms v Jul. 18: Received a $700 allowance from Schmitt Diamonds for damaged but usable goods. Jul. 24: Paid Schmitt Diamonds, less allowance and discount. More info