Prepare journal entries for the following merchandising transactions of Powell Company assuming it uses a perpetual inventory system and the gross method.

May $1$ Powell purchased merchandise with a price of $$1,035$ and credit terms of n$/30.$

May $12$ Powell returned merchandise that had a price of $$205.$

May $31$ Powell paid the amount due from the May $1$ purchase, minus the May $12$ return.

June $3$ Powell sold merchandise for $$530,$ with credit terms n$/15.$ Cost of the merchandise is $$380.$

June $5$ The customer discovers some of the units are scratched. Powell gives a price reduction $($allowance$)$ and credits the customer$$s accounts receivable for $$52$ to compensate for the scratches.

June $18$ Powell received payment for the amount due from the June $3$ sale less the June $5$ allowance.