June 3 Purchased goods for $5,900 from Diamond Inc. with torms 3/10, n/30. 5 Retumed goods costing $2,000 to Diamond Inc. for full credit 6 Purchased goods from Club Corp. for $1,900 with terms 3/10, n/30. 11 Paid the balance owed to Diamond Inc 22 Paid Club Corp. in full. Required: 1. Prepare journal entries to record the transactions, assuming Ace uses a perpetual inventory system. (f is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 1June 03 Inventory 5,900 Accounts Payable 5,900 2June 05 Accounts Payable 2,000 Inventory 2,000 3June 06 Inventory 1,900 Accounts Payable 1,900 4 June 11 Accounts Payable 3,900 Inventory Cash 3,783 5June 22 Accounts Payable 1,900 Cash 1,900 2. Assume that Ace uses a perpetual inventory system and that the company had no inventory on hand at the beginning of the month. Calculate the cost of inventory as of June 30. (Do not round intermediate calculations. Round your answer to 2 decimal places.) of l