Required information Problem 6-3B Record transactions and prepare a partial income statement using a perpetual inventory system (LO6-2, 6-5) [The following information applies to the questions displayed below.] At the beginning of June, Circuit Country has a balance in inventory of $2,150. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $1,850, terms 2/15, n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, $230. 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, $3,300, that had a cost of $2,350. June 18 Receive payment on account from customers, $2,300. June 20 Purchase radios on account from Sound Unlimited for $2,950, terms 2/10, n/30. June 23 Sell radios to customers for cash, $4,450, that had a cost of $2,750. June 26 Return damaged radios to Sound Unlimited and receive credit of $300. June 28 Pay Sound Unlimited in full. Problem 6-3B Part 1 Required: 1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1 Record purchase of radios on account from Radio World for $1,850, terms 2/15, n/45. 2 Record payment of cash for freight charges related to the June 2 purchase from Radio World, $230. 3 Record return of defective radios to Radio World and receive credit, $200. 4 Record payment to Radio World in full. 5 Sell radios to customers on account, $3,300, that had a cost of $2,350. Note : = journal entry has been entered 6 Sell radios to customers on account, $3,300, that had a cost of $2,350. Record the cost of inventory sold. 7 Record receipt of payment on account from customers, $2,300. 8 Record purchase of radios on account from Sound Unlimited for $2,950, terms 2/10, n/30. 9 Sell radios to customers for cash, $4,450, that had a cost of $2,750. Record the sale of inventory for cash. 10 Call rading to customere for rach 41 450 from Sound Unlimited for $2,950, terms 2/10, n/30. 9 Sell radios to customers for cash, $4,450, that had a cost of $2,750. Record the sale of inventory for cash. 10 Sell radios to customers for cash, $4,450, that had a cost of $2,750. Record the cost of inventory sold. 11 Record return of damaged radios to Sound Unlimited and receive credit of $300. 12 Record payment to Sound Unlimited in Note : = journal entry has been entered cost of inventory sold. 11 Record return of damaged radios to Sound Unlimited and receive credit of $300. 12 Record payment to Sound Unlimited in full. Note : = journal entry has been entered