SALES TRANSACTIONS IN A PERPETUAL SYSTEM FOR A MERCHANDISER Charlie's Book Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. During the month of July, the following merchandising transactions occurred. Use this information to record the necessary entries assuming a perpetual inventory system. Round entries to the nearest whole dollar. A. Charlie purchased book merchandise from Publishing by Anne on July 5. Charlie purchased 1,000 textbooks for $50 each and paid in cash. B. On July 15, Charlie sold 600 textbooks to KU Bookstore on account for $75 each. C. When Ku Bookstore received the books on July 20, they noticed that 10 of them were damaged, but wanted to keep | them and offer them to students at a lower price. Charlie offered the bookstore a 10% sales allowance on those 10 books, which it gladly accepted. D. On the same day, the bookstore also noticed that there were pages missing on a whole box of books (20 in total). Because these books could not be sold to students, KU Bookstore returned these books to Charlie. E. On July 23, Charlie received payment in full from the KU Bookstore on the balance owed. ASSETS LIABILITIES + EQUITY