Question 3 (8 marks) Jabari Company purchases various types of beach toys for sale to consumers. Listed below are the transactions for the month of June. Jabari uses a perpetual inventory system. Jun 1 Purchased 18 water tubes for $250 each terms ni30 FOB destination. 8 Returned 2 tubes purchased on June 1 due to defects. Received a full refund for the defective tubes. 10 Freight charges of $85 for the June 1 transaction are paid by the responsible party. 11 Made a complaint about competitive pricing. Received a $200 credit for the water tubes purchased on June 1. 15 Purchased 92 water tubes for $225 each terms 2!10 nf30. 18 Made payment for the amount owing for the June 1 transaction. 20 Made payment for the amount owing for June 15 transaction. Instructions a) Journalize transactions using the perpetual inventory system. (7 marks) b) Determine the balance of the Inventory account for June. (There was no inventory at the beginning of the period). (1 mark) Question 4 (13 marks) The following information is available for Carperby Company for the year ended December 31, 2017: Accounts payable... $ 2,700 Building not currently used... 9,500 Accumulated depreciatIon-eqUIpment 4,000 June Carperby, capital.... 20.800 Intangible assets... ... 2,500 Notes payable (due In 5 years) 7,500 Accounts receivable... 1,500 Short- term Investments 1,000 Land... 10,000 Equipment... 7,500 Long-term Investments 400 Instructions: Use the above information to prepare, in good form, a classified balance sheet for the year ended December 31, 2017