Problem $6-3$B $($Algo$)$ Record transactions and prepare a partial income statement using a perpetual inventory system $($LO$6-2,6-5)$

At the beginning of June, Circuit Country has a balance in inventory of $$2,050.$ The following transactions occur during the month of June.

June $2$ Purchase radios on account from Radio World for $$1,750,$ terms $\frac{2}{15},\frac{n}{45}.$

June $4$ Pay cash for freight charges related to the June $2$ purchase from Radio World, $$210.$

June $8$ Return defective radios to Radio World and receive credit, $$200.$

June $10$ Pay Radio World in full.

June $11$ Sell radios to customers on account, $$3,100,$ that had a cost of $$2,250.$

June $18$ Receive payment on account from customers, $$2,100.$

June $20$ Purchase radios on account from Sound Unlimited for $$2,850,$ terms $2/10,\frac{n}{30}.$

June $23$ Sell radios to customers for cash, $$4,350,$ that had a cost of $$2,650.$

June $26$ Return damaged radios to Sound Unlimited and receive credit of $$500.$

June $28$ Pay Sound Unlimited in full.

Required:

Assuming that Circuit Country uses a perpetual inventory system, record the transactions.

Prepare the top section of the multiple$-$step income statement through gross profit for the month of June.