Journalize the following transactions assuming the perpetual inventory system: July 3 July 5 Sold merchandise on account for $3,750 terms /eom. The cost of the goods sold was $2,000. Issued credit memo for $1,050 for merchandise returned from sale on July 3. The cost of the merchandise returned was $610. Received check for the amount due for sale on July 3 less return on July 5. Sold merchandise for $7,000 plus 6% sales tax to cash customers. The cost of the goods sold was $3,830. July 12 July 17 If an amount box does not require an entry, leave it blank. July 3 July 3 July 5 July 5 July 12 July 17 If an amount box does not require an entry, leave it blank. July 3 I July 3 July 5 July 5 July 12 July 17 July 17 Calculator Print tem Prepare a multiple-step income statement for Armstrong Co. from the following data for the year ended December 31. Sales, $755,000; cost of goods sold, $330,000, administrative expenses, $35,000; interest expense, $30,000; rent revenue, $25,000; selling expenses, $50,000 Armstrong Co. Income Statement For the Year Ended December 31 Gross profit Operating expenses: Total operating expenses Other revenue and expense: