Part 1: Consider the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, record the sale on June 1 in Accounts Receivable-Avery \& Wiest. June 1 Sold merchandise to Avery \& Wiest for $10,000; terms 1/5,n/15, FOB destination (cost of sales $7,150 ). 2 Purchased $5,400 of merchandise from Angolac Suppliers; terms 3/10,N/20, FOB shipping point. 4 Purchased merchandise inventory from Bastille Sales for $12,400; terms 3/15,n/45, FOB Bastille Sales. 5 Sold merchandise to Gelgar for $12,000; terms 1/5,n/15, FOB destination (cost of sales $8,200 ). 6 Collected the amount owing from Avery \& Wiest regarding the June 1 sale. 12 Paid Angolac Suppliers for the June 2 purchase. 20 Collected the amount owing from Gelgar regarding the June 5 sale. 30 Paid Bastille Sales for the June 4 purchase. Prepare General Journal entries to record the above transactions. Based on the information provided above, calculate the following: a. Calculate Net sales. b. Calculate Cost of goods sold. c. Calculate Gross profit from sales