Payable-Brown.) July 1 Purchased merchandise from Brown Company for $7,600 under credit terms of 1/15, n/30, FOB shipping point, invoice dated July 1. July 2 Sold merchandise to Turner Company for $1,700 under credit terms of 2/10, n/60, F08 shipping point, invoice dated July 2. The merchandise had cost $1,020. July 3 Paid $445 cash for freight charges on the purchase of July 1. July 8 Sold merchandise that had cost $2,000 for $3,300 cash. July 9 Purchased merchandise from Hall Company for $3,000 under credit teres of 2/15, n/60, FOB destination, invoice dated July 9. July 11 Returned $600 of merchandise purchased on July 9 from Hall Company and debited its account payable for that amount. July 12 Received the balance due from Turner Company for the invoice dated July 2, net of the discount. July 16 Paid the balance due to Brown Company within the discount period. July 19 Sold merchandise that cost $2,000 to Carter Company for $2,800 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19. July 21 Gave a price reduction (allowance) of $600 to Carter Company for merchandise sold on July 19 and credited Carter's accounts receivable for that amount. July 24 Paid Hall Company the balance due, net of discount. July 30 Received the balance due from Carter Company for the invoice dated July 19, net of discount. July 31 Sold merchandise that cost $5,200 to Turner Company for $8,600 under credit teres of 2/10, n/60, Foe shipping point, invoice dated July 31. Requirement General Journal General Trial Balance Ledger Schedule of Schedule of Receivables Payables Income Statement Impact on Income Prepare a multiple-step income statement through the calculation of gross profit. Garcia's Company Partial Income Statement For the Month Ended July 31, 2021 Net income 0 $ 0 0 0 0 0 Incon Check