I am in hurry.

Question 2 (8 marks) 12-15 minutes WS Smith Limited had the following transactions in June 2021. WS Smith uses a perpertual inventory system and its cost of goods sold is 30% of the selling price. \begin{tabular}{l|l} 01-Jun & Sold goods on account to Arnold James for $150,000, terms 2/10,n/30,FOB destination. \\ 02-Jun & The appropriate company paid freight charges of $1,000. \\ 07-Jun \\ Amold James returned $30,000 of the goods. The goods are considered to be in \\ saleable condition. \end{tabular} repare journal entries to record the above transactions in the books of WS Smith. Explanations are not required