Required information [The following information applies to the questions displayed below.] At the beginning of July, CD City has a balance in inventory of $2,550. The following transactions occur during the month of July. 3 Purchase CDs on account from Wholesale Music for $1,450, terms 2/10, n/30 4 Pay cash for freight charges related to the July 3 purchase from Wholesale Music, $120 9 Return incorrectly ordered CDs to Wholesale Music and receive credit, $400. July July July July 11 Pay Wholesale Music in full. July 12 Sell CDs to customers on account, $4,100, that had a cost of $2,150. July 15 Receive full payment from customers related to the sale on July 12 July 18 Purchase CDs on account from Music Supply for $2,250, terms 2/10, n/30. July 22 Sell CDs to customers for cash, $3,350, that had a cost of $1,650. July 28 Return CDs to Music Supply and receive credit of $130 July 30 Pay Music Supply in full. Required: 1. Assuming that CD City 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.) No Date General Journal Debit Credit Inventory July 03 1 1,450 Accounts Payable 1,450 Freight-In 120 2 July 04 Cash 120 July 09 400 3 Accounts Receivable 400 Inventory X 1,421( Accounts Payable 4 July 11 Cash 1,421 4,100 July 12 Accounts Receivable Sales Revenue 4,100 2,150 x July 12 6 Cost of Goods Sold 2,150 x Inventory 7 July 15 Cash 4,100 Accounts Receivable 4,100 8 2,250 July 18 Inventory Accounts Payable 2,250 July 22 Cash 3,350 X Inventory 3,350 July 22 Cost of Goods Sold 1,650 1,650x Inventory 130 11 July 28 Accounts Receivable Inventory 130 July 30 Accounts Payable 2,250 12 2,250 x Cash 10