Sansomite Co. distributes suitcases and extends credit terms of 1/10,n/30 to all of its customers. At the end of June, Sansomite's inventory consisted of suitcases costing \$1,200. During the month of July the following merchandising transactions occurred. Jul-01 Purchased suitcases on account for $1,800 from Trunk Manufacturers, FOB destination, terms 2/10,n/30. The appropriate party also made a cash payment of $100 for freight on this date. Jul-03 Sold suitcases on account to Satchel World for $2,000. The cost of suitcases sold is $1,200 Jul-09 Paid Trunk Manufacturers in full. Jul-12 Received payment in full from Satchel World Jul-17 Sold suitcases on account to The Going Concern for $1,500. The cost of the suitcases sold was $900. Jul-18 Purchased suitcases on account for $1,700 from Kingman Manufacturers, FOB shipping point, terms 1/10,n/30. The appropriate party also made a cash payment of $100 for freight on this date. Jul-20 Received $300 credit (including freight) for suitcases returned to Kingman Manufacturers. Jul-21 Received payment in full from The Going Concern Jul-22 Sold suitcases on account to Fly-By-Night for $2,250. The cost of suitcases sold was $1,350. Jul-30 Paid Kingman Manufacturers in full Jul-31 Granted Fly-By-Night $200 credit for suitcases returned costing $120 Question: (a) Journalize the July transactions using a periodic inventory system