Ivanhoe Company purchases various types of beach toys for sale to consumers. Listed below are the transactions for the month of June Ivarhoe uses a perpetual inventory system. June 1 Purchased 22 water tubes for $250 each terms n/30 FOB destination. 8 Returned 5 tubes purchased on June 1 due to defects. Received a full refund for the defective tubes. 10 Freight charges of $85 for the June 1 transaction are paid by the responsible party. 11 Made a complaint about competitive pricing Received a $200 credit for the water tubes purchased on June 1. 15 Purchased 100 water tubes for $225 each on account terms 2/10m30. 18 Made payment for the amount owing for the June I transaction 20 Made pavment for the amount owine for the June 15 transiction Fruenalize the tranchationsusing the perpetuatirwentary system. KCredl occount titles are auflomatically indented when the amount is entered Donot indent moinvelly if no entry is required sudect JVo Entry' for the account tit es and enter O for the amiounts. Listail deblit entries before areait entres) Determine the balance of the Merchandise inventory account at the end of June. (There was no inventory at the beginning of the month.) Inventory balance $