i. Jake's Market recorded the following events involving a recent purchase of merchandise: Received goods for $60,000, terms 2/10, n/30. Returned $1,200 of the shipment for credit Paid $300 freight on the shipment. Paid the invoice within the discount period. As a result of these events, what will be the balance of inventory? ii. Arquette Company's financial information is presented below. Sales Revenue $ ???? Cost of Goods Sold 540,000 Sales Returns and Allowances 40,000 Gross Profit ???? Net Sales 900,000 Calculate the missing figures. iii. Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May 13 Sold 8 motors at a cost of $45 each to Scruffy Brothers Supply Company, terms 4/10, n/30. The motors cost Charlie $26 each. May 16 One defective motor was returned to Charlie. May 23 Received payment in full from Scruffy Brothers. Round to nearest dollar. Instructions Journalize the May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual inventory system. You may omit explanations. Round amounts to nearest dollar