Question 1 (4 marks): Sunburts distributes hardcover books to retail stores. At the beginning of June, 2021, the ledger of Sunburts showed Cash of $3,000 and Share Capital Ordinary of $3,000. Jun 1 Purchased books on account for $1,850 from Red Publishers, FOB shipping point, terms 2/10, 1/30. The appropriate party also made a cash payment of $50 for the freight on this date. A 3 Sold books on account to Libris for $2,500, terms 2/10, n/30. The cost of the books sold was $1,000 6 Received $150 credit for books returned to Red Publishers. 9 Paid Red Publishers in full, less discount. 10 Granted Libris $250 credit for merchandise returned costing $100 15 Received payment in full from Libris, less discount if any 17 Purchased books on account from Bargain Books for $1.200. FOB Destination, terms 2/10, n/30. The appropriate party also made a cash payment of $50 for the freight on this date. 20 Paid $200 cash for utilities bill of June. 24 Paid Bargain Books in full, less discount if any. 20 Paid $200 cash for utilities bill of June. 24 Paid Bargain Books in full, less discount if any. 25 Paid employees' salaries and wages $500 cash Instructions: 1. Journalize the transactions for the month of June for Sunburts using a perpetual inventory system. 2. Prepare the income statement for the month of June, 2021. a