Sales and purchase related transactions using perpetual inventory system The following were selected from among the transactions completed by Essex Company during July of the current year. Essex uses the net method under a perpetual inventory system July 3. Purchased merchandise on account from Hamling Co., list price $94,000, trade discount 20%, terms FOB shipping point, 2/10, 1/30, with prepaid freight of $950 added to the invoice. 5. Purchased merchandise on account from Kester Co., $44,750, terms FOB destination, 2/10, 1/30 6. Sold merchandise on account to Parsley Co., $15,220, terms w/15. The cost of the goods sold was $9,110, 7. Returned merchandise with an invoice amount of $15,200 purchased on July 5 from Kester Co. 13. Paid Hamling Co. on occount for purchase of July 3. 15. Paid Kester Co. on account for purchase of July 5, less return of July 7. 21. Received cash on account from sale of July 6 to Parsley Co. 21. Sold merchandise on MasterCard, $231,590. The cost of the goods sold was $147,730 22. Sold merchandise on account to Tabor Co., $58,200, terms 2/10, 1/30. The cost of the goods sold was $31,660 23. Sold merchandise for cash, $34,110. The cost of the goods sold was $21.920 28. Paid Parsley Co. a cash refund of $5,940 for returned merchandise from sale of July 6. The cost of the returned merchandise was $2,970, 31. Paid MasterCard service fee of $3,190 Required: Journalize the transactions. If an amount box does not require an entry, leave it blank July 22 July 22 July 23 July 23 II II II II II II II II II II II July 28 July 28 July 31