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: July 3. Purchased merchandise on account from Hamling Co., list price $72,000, trade discount 15%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,450 added to the invoice. 5. Purchased merchandise on account from Kester Co., $33,450, terms FOB destination, 2/10, n/30. 6. Sold merchandise on account to Parsley Co., $36,000, terms n/15. The cost of the goods sold was $25,000. 7. Returned merchandise with an invoice amount of $6,850 purchased on July 5 from Kester Co. 13. Paid Hamling Co. on account 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 with a list price of $108,000 to customers who used MasterCard and who redeemed $7,500 of point-of-sale coupons. The cost of the goods sold was $64,800. 22. Sold merchandise on account to Tabor Co., $16,650, terms n/30. The cost of the goods sold was $10,000. 23. Sold merchandise for cash, $91,200. The cost of the goods sold was $55,000. 28. Paid Parsley Co. a cash refund of $7,150 for returned merchandise from sale of July 6. The cost of the returned merchandise was $4,250. 31. Paid MasterCard service fee of $1,650. 31. During July, printed a coupon with each customer's sales receipt for $1 off the customer's next purchase of over $10. The coupons may be redeemed during August. Of the total of 30,000 coupons printed, it is estimated that 60% will be redeemed. Required: Required: 1. Journalize the transactions. If an amount box does not require an entry, leave it blank. July 3 Inventory Accounts Payable-Hamling Co. 73,450 X 73,450 X July 5 Inventory 33,450 Accounts Payable-Kester Co. 33,450 July 6 Accounts Receivable-Parsley Co. 36,000 Sales 36,000 July 6 Cost of Goods Sold Inventory July 7 Accounts Payable-Kester Co. Inventory 25,000 25,000 6,850 6,850 July 13 Accounts Payable-Hamling Co. 61,426 X Cash 61,426 Inventory 1,224 eBook July 15 Accounts Payable-Kester Co. Cash Inventory Show Me How 26,068 X 26,068 26,600 X July 21 Cash 36,000 Accounts Receivable-Parsley Co. 36,000 July 21 Cash Sales 100,500 100,500 July 21 Cost of Goods Sold Inventory 64,800 64,800 July 22 Accounts Receivable-Tabor Co. 16,650 Sales 16,650 July 22 Cost of Goods Sold Inventory July 23 Cash Sales 10,000 10,000 91,200 91,200