Prepare journal entries for the following, assuming the company uses a perpetual inventory method and records purchases at their net amounts.

June 1 June 2 June 4 June 6 June 8 June 12 P urchased merchandise from Martin Company for $900 with the terms of 2/10,n/30 Returned $100 of the merchandise to the Martin Company Purchased merchandise from the Elizabeth Company for $700 with the terms of 3/10, n/30 Paid the amount owed to the Martin Company Returned $50 of the merchandise purchased from the Elizabeth Company Sold all of the merchandise on hand from the Martin Company for $1,060 and collected 8% sales tax in addition to the sales price Paid the amount owed to Elizabeth Company in full June 16