HW Score: 0% 0 of 1 VIRTAI ) On June 30, 2020. McMurray Jewellers purchased inventory of 553,000 on account from Gates Germ Lda jewellery importer Terms were 2/15, On receiving the goods, McMurray checked the order and found 5.70 of items that were not ordered but included in the invoice McMurray returned this amount of merchandise to Gates on July 4 On July 14, McMurray paid Gates Required 1. Journalize all necessary transactions for McMurray Jewelers, which uses the perpetual inventory system Explanations are not required 2. Journalize the transactions of Gates Gems Lid, which uses the perpetual Inventory system. Gates's gross margin is 40 percent, socost of goods sold be 60 percent of sales Explanations are not required Requirement 1. Journalize all necessary transactions