QUESTION 1 22 MARKS Jewel's Gems sells gold necklaces. On December 1, 2017, Jewel's had 230 necklaces in inventory at a cost of $120 each. During December, the following transactions occurred: Dec 1 Purchased 500 necklaces at $120 each from Lindal Gold Fashions on account, terms net 30. 4 Retumed 30 of the necklaces purchased from Lindal because they were defective. 9 Paid the balance due on the Lindal account payable. 12 Sold 600 necklaces for $250 each, terms n/30, FOB destination 13 Freight of $250 on the Dec 12 sale paid by the appropriate party. 16 Purchased 150 necklaces from Green wholesale Jewelers for $120, terms 1/30. 17 Sold 30 of the necklaces for cash, $325 each. 19 Customer retumed 2 of the necklaces purchased on Dec 17. Provided a cash refund. The necklaces were returned to inventory. Instructions Using the perpetual inventory system, prepare the joumal entries to record the transactions