Required information The following information applies to the questions displayed below) At the beginning of July CD City has a balance in inventory of $2,650. The following transactions occur during the month of July Ouly 3 Purchase CDs an account from Wholesale Music for $1,550, terms 2/10, 1/30. July 4 Pay cash for freight charges related to the July 3 purchase from Wholesale Music, $100. July 9 Return Incorrectly ordered cos to Wholesale Husse and receive credit, $100. Duly 11 Pay wholesale Music in full. July 12 Sell CDs to customers on account, $4,900, that had a cost of $2,250. July 15 Receive full payment from customers related to the sale on July 12. July in purchase CDs or account from Music Supply for 52,350, ter 10. 30. July 22 Sell CDs to customers for cash $3,450, that had a cost of $1,750 July 20 Return CDs to Music Supply and receive credit of $150. July 36 Pay Music Supply in full Required: 1. Assuming that CD City 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 occount field.) View transaction list Required: 1. Assuming that CD City 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.) View transaction list View journal entry worksheet No Date General Journal Debit Credit 2. Prepare the top section of the multiple-step income statement through gross profit for the month of July. CD CITY Multiple-step Income Statement (partial) For the month of July