Sales-Related 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, 1/30, 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 merchandise sold was $25,000. 7. Returned $6,850 of merchandise 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 on MasterCard, $108,000. The cost of the merchandise sold was $64,800. 22. Sold merchandise on account to Tabor Co., $16,650, terms 2/10, n/30. The cost of the merchandise sold was $10,000. 23. Sold merchandise for cash, $91,200. The cost of the merchandise 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. Required: Journalize the transactions, For a compound transaction, if an amount box does not require an entry, leave it blank. Merchandise Inventory Accounts Payable-Hamling Co. Merchandise Inventory Accounts Payable-Kester Co. le Accounts Receivable-Parsley Co. 36,000 Sales ost Cost of Merchandise Sold 25,000 Merchandise Inventory 1.1 1 1 Accounts Payable-Kester Co. Merchandise Inventory Accounts Payable-Hamling Co. Cash Accounts Payable-Kester Co. Cash -sale Cash 36,000 Accounts Receivable-Parsley Co. -sale Cash 108,000 Sales Cost of Merchandise Sold July 21-cost 64,800 Merchandise Inventory July 22-sale Accounts Receivable-Tabor Co. Sales July 22-cost Cost of Merchandise Sold 10,000 Merchandise Inventory Cash July 23-sale 91,200 Sales July 23-cost Cost of Merchandise Sold 55,000 Merchandise Inventory July 28-return Customers Refunds Payable 7,150 Cash July 28-cost Merchandise Inventory 4,250 Estimated Returns Inventory July 31 Credit Card Expense 1,650 Cash 1,650