Part 1 Prepare general journal entries to record 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. Page 375 June 1 Sold merchandise to Avery & Wiest for $9,500; terms 2/5. n/15, FOB destination (cost of sales 86,650). 2 Purchased $4,900 of merchandise from Angolac Suppliers; terms 1/10,n/20, FOB shipping point. 4 Purchased merchandise inventory from Bastille Sales for $11,400; terms 1/15, n/45. FOB Bastille Sales. 5 Sold merchandise to Gelgar for $11,000; terms 2/5, 1/15, FOB destination (cost of sales 57.700). 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. Part 2 Based on the information provided above, calculate (a) net sales, (b) cost of goods sold, and (c) gross profit for the month ended June 30, 2020