Problem 5-1A Journal entries for merchandising activities-perpetual LO3 Part 1: Consider 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 Recelvable-Avery \& Wiest. June 1 Sold merchandise to Avery 8 Wiest for $9,050; terms 2/5,n/15, roe destination (cost of sales 16,200 ). 2 Purchased $4,450 of nerehandise fron Angolac suppliers; teras 2/10,2/20, Fob shipping point. 4 Purchased nerchandise inventory from Basti11e Sales for $10,500; teras 3/15,n/45, Fo bastil1e 5ales. 5 Sold nerchandise to Gelgar for $10,100; terms 1/5,n/15, Fos destination (cost of sales $7,250 ). 6. Collected the amount oving fron Avery \& Wiest reganding the June 1 sale. 12. Peid Angolac Suppliers for the June 2 purchase. 20 Collected the anount owing frae Gelgar regarding the June 5 sale. 30 Paid Bastilie Sales for the June A purchase. Prepare General Journal entries to record the above transactions