Paragraph Styles Suppose Heat Miser Air Conditioner Company engaged in the following transactions during June of the current year: Jun. 3 Purchased inventory on account with credit terms of 1/10, n/EOM. $1.600. 9 Returned 40% of the inventory purchased on June 3. It was de 12 Sold goods for cash, $920 (cost, $550). 15 Purchased goods for $5,000 on account. Credit terms were 3/15, n/30. 16 Paid a $260 freight bill on goods purchased. 17 Sold inventory for $4,000 cash (cost, $2,360). 18 Sold inventory for $2,000 on account with credit terms of 2710, 30 (cost $1,180). 22 Received returned goods from the customer of the June 17 sale, $800 (cost $4801 24 Paid supplier for goods purchased on June 15. 28 Received cash in full settlement of the account from the customer who purchased inventory on June 18. 62 Paid the amount owed on account from the purchase of June 3 30 The company estimated that $400 of merchandise sold will be returned with a cost of $240 Requirement Journalize the preceding transactions Assume Heat Miser uses a perpetual inventory system. The company Estimates sales returns at the end of each month. Journalize the above transactions Sele Edit