ick the icon to view the transactions.) me requirements More Info - X ement 1. Journalize the transactions. Assume Heat Miser uses a perpet Purchased inventory on account with credit terms of 1/10, n/EOM, $1,60 Jun ate Accounts and Explanation 3 Purchased inventory on account with credit terms of 1/10,n/EOM, $1,600. 9 Returned 40% of the inventory purchased on June 3. It was defective. 12 Sold goods for cash, $920 (cost, $550) 15 Purchased goods for $5,000 on account. Credit terms were 3/15, n/30. 16 Paid a $260 freight bill on goods purchased. 18 Sold inventory for $2,000 on account with credit terms of 2/10,n/30 (cost, $1,180). 22 Received returned goods from the customer of the June 18 sale, $800 (cost, $480). 24 Paid supplier for goods purchased on June 15. 28 Received cash in full settlement of the account from the customer who purchased inventory on June 18 29 Paid the amount owed on account from the purchase of June 3. from any list or enter any number in the input fields and then click Print Done Done Activate Nind arts Requirement 2. The Merchandise Inventory and Cost of Goods Sold accounts have been set up for you and assumes that there was no inventory at the beginning of the period. Post the journal entries to show the ending balances in the Merchandise Inventory and the Cost of Goods Sold accounts only Use dates as posting references. Calculate the balance of each account and enter the balance, along with a "Bal." posting reference on the appropriate side of each account. Reviewatine oumallennes prepared above Merchandise Inventory Cost of Goods Sold Choose from any list or enter any number in the input fields and then click Check Answer Activate Windows Get Settings te activate Windows