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P6-3B At the beginning of June, Circuit Country has a balance in inventory of $3,000. The following transactions occur during the month of June. lune

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P6-3B At the beginning of June, Circuit Country has a balance in inventory of $3,000. The following transactions occur during the month of June. lune 2 Purchase radios on account from Radio World for $2,700, terms 1/15, n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, 5400. June 8 Return defective radios to Radio World and receive credit, $400. June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $5,000, that had a cost of $3,200. June 18 Receive payment on account from customers, $4,000. June 20 Purchase radios on account from Sound Unlimited for $3,800, terms 3/10, n/30. June 23 Sell radios to customers for cash June 26 Return damaged radios to Sound Unlimited and receive credit of s500. June 28 Pay Sound Unlimited in ful , $5,300, that had a cost of $3,600. Required: 1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. 2. Prepare the top section of the multiple-step income statement through gross profit for the month of June

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