Problem Prepare journal entries to record the following four transactions for Labatt Company using the perpetual inventory method. (Omit explanations for the entries.) 20. June 1purchased on account inventory costing $15,000 terms 2/10 n/30. June 9returned inventory costing $2,000 that was purchased on June 1 June 10paid for the merchandise purchased on June 1. June 15- sold inventory costing $6,500 for $12,000 cash