Sunni Brown operates a business supplying hairstyling products (Sunni's Hairstyling Products) to hair salons in downtown Halifax. She offers her clients' terms of 2/10, n/30 on all sales and she uses a perpetual Inventory system to account for her inventory. Transactions in the month of July were as follows: July 1 Purchased $24,000 of inventory on credit 1/5, n/15, FOB shipping point. 2 Paid the shipping fee of $500 for the July 1st purchase. 5 Purchased supplies on credit for $350, n/30. 8 Sold inventory on credit to a customer for $5,600,2/10, net 30. (cost $3,100) 10 Sold inventory on credit to a customer for $12,300 less a quantity discount of 10% (cost $6,930) 15 Returned $1,000 of defective merchandise from the July 1st purchase 16 Paid for the July 1st purchase less the return. 18 Received payment from the sale on July 8th. 20 Received payment from the sale on July 10th. 25 Paid the July utility bill, $250. 30 Paid employee's salary $2,200. Use the blank journal on the reverse side of this page, and complete the journal entries for each of the above. Record the July transactions in the general journal. Date July Account Titles and Explanations PR Debit Credit 8 15 16 20 25