Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a perpetual inventory system. June 1 Purchased merchandise with a price of $830 and credit terms of n/45. June 9 Received a $88 allowance (for scratched merchandise) toward the June 1 purchase. July 16 Paid the amount due from the June 1 purchase, minus the June 9 allowance.