Problem 5-1A Journal entries for merchandising activities-perpetual LO3 Port 1: Consider the following perpetual system merchandising transactions of Bellon 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 werchandise to Avery 8 Wiest for $9,050; terns 2/5,n/15, FoB destination (cost of sales $6,200). 7 Purchased $4,450 of merchandise froe Angolac Suppliers; teres 2/10, n/20, Foe shipping point. 4 Purchased merchandise imventory fron Bastille Sales for $10,500; teras 3/15, n/45, Fob Bastille 5 ales. 5 Sold merchandise to Gelgar for $10,100; terns 1/5,n/15, Foe destination (cost of sales $7,25e ). 6 Collected the amount ouing from Avery \& Klest regarding the June 1 sale. 12 Paid Angolac suppliers for the June 2 purchase. 20 Collected the anount ouing fron Gelgar regarding the June 5 sale. 3e Paid Dast111e Sales for the June 4 parchase. Prepare General Journal entries to record the above transactions. Based on the information provided above, calculate the following: o. Calculate Net sales. b. Calculate Cost of goods sold. c. Calculate Gross profit from sales