Monty Home Electronics Corp. completed the following merchandising transactions in the month of July 2024. At the beginning of July, Monty's ledger showed Cash $22,000; Accounts Receivable $9,900; Inventory $12,100; Common Shares $19.800; and Retained Earnings $24,200. Monty Home has experienced a return rate of 2% of sales and uses a perpetual inventory system. July 2 Sold merchandise on account to Home Security Ltd. for $9,900, terms n/45, FOB destination. The cost of the merchandise was $6,600. 2 Freight charges of $220 were paid by the appropriate party on the merchandise sold. 4 Purchased merchandise on account from Al Gadgets Inc. for $15,400, terms 2/10. n/30, FOB shipping point. 5 Freight charges of $550 were paid by the appropriate party on the merchandise purchased on July 4. 8 Collected $3,300 of the accounts receivable outstanding at the beginning of the month. All accounts were originally sold on terms of n/30. 9 Paid a $200 cash refund to customers for returned merchandise. The cost of the returned merchandise was $70. It was restored to inventory. Ou Ou Acco Vie Act Que Acco Que Acco 11 Received a $880 credit from Al Gadgets when merchandise was returned. 13 Sold merchandise to various customers for $7,700 cash. The cost of the merchandise was $2,200. 16 Purchased merchandise from Virtual Trainers Inc. for $13,200, terms n/30, FOB destination. 17 18 Freight of $220 was paid by the appropriate party on the July 16 purchase of merchandise. Paid Al Gadgets in full. Que Acco