Sales and purchaserelated 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 $82,000, trade discount 30%, terms FOB shipping point, 2f10, n/30, with prepaid freight of $390 added to the invoice. 5. Purchased merchandise on account from Kester Co., $46,000, terms FOB destination, 2,:'10, nl30. 6. Sold merchandise on account to Parsley Co., $14,870, terms n,t'15. The cost of the goods sold was $9,130. 7. Returned merchandise with an invoice amount of $14,000 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 ofluly 5, less return of July 7. 21. Received cash on account from sale of July 6 to Parsley Co. 21. Sold merchandise on MasterCard, $242,250. The cost of the goods sold was $135,780. 22. Sold merchandise on account to Tabor Co., $60,500, terms 2/10, n,-'30. The cost of the goods sold was $36,020. 23. Sold merchandise for cash, $40,150. The cost of the goods sold was $22,360. 28. Paid Parsley Co. a cash refund of $5,970 for returned merchandise from sale of July 6. The cost of the returned merchandise was $3,190. 31. Paid MasterCard service fee of $3,660. Required: Journalize the transactions. If an amount box does not require an entry, leave it blank. IAccounts Pa ableiHamlin Co. 1 VI C] C] JulyS am\" x C} C] Accounts Receivable-Kester Co. X July 6 Cost of Goods Sold X Inventory X July 6 Delivery Expense X Sales Discounts X July 7 Cash X Inventory July 13 Cash X 10 0 00 00 00 00 00 0 Sales Discounts X 1 00 00 00 00 00 00 00 July 15 Cost of Goods Sold X Cost of Goods Sold X July 21 Inventory X Sales Discounts X July 21 Cash Accounts Receivable X July 21 Cost of Goods SoldAccounts Receivable X July 22 Inventory X Sales July 22 Cost of Goods Sold V Accounts Receivable-Parsley Co. X July 23 Sales X Sales Returns and Allowances X July 23 Cash X 00 00 00 00 00 00 00 Inventory 00 00 00 00 00 00 July 28 Accounts Payable-Kester Co. X Sales Discounts X July 28 Cost of Goods Sold X Cash X July 31 Inventory X Cash