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.

June 1 sold merchandise to Avery & Weist for $9500; terms 2/5, n/15. FOB destination (cost of sales $6,650).

2 purchased $ 4900 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, n/15, FOB destination (cost of sales $7700)

6 Collected the amount owing from Avery & Weist 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, (cost of goods sold), and (c) gross profit for the month ended June 30, 2020.