Required information Problem 6-9B Record transactions and prepare a partial income statement using a periodic inventory system (LO6-8) [The following information applies to the questions displayed below.] At the beginning of June, Circuit Country has a balance in inventory of $2,300. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $2,000, terms 1/15, n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, $260. June 8 Return defective radios to Radio World and receive credit, $300. June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $3,600, that had a cost of $2,500. June 18 Receive payment on account from customers, $2,600. June 20 Purchase radios on account from Sound Unlimited for $3,100, terms 3/10, n/30. June 23 Sell radios to customers for cash, $4,600, that had a cost of $2,900. June 26 Return damaged radios to Sound Unlimited and receive credit of $300. June 28 Pay Sound Unlimited in full. Problem 6-9B Part 1 Required: 1. Assuming that Circuit Country uses a periodic inventory system, record the transactions. (If no entry is required for a particular transaction, select "No Journal Entry Required" in the first account field.)