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Super Inc. entered into the transactions listed below. In the journal provided, prepare necessary entries, assuming use of the perpetual inventory system. July 6 Purchase

Super Inc. entered into the transactions listed below. In the journal provided, prepare necessary entries, assuming use of the perpetual inventory system.

July 6 Purchase $5,500 of merchandise on credit, terms n/30

8 Returned $500 of the items purchased on July 6.

9 Paid freight charges of $150 on the items purchased July 6.

19 Sold merchandise on credit for $5,400, terms 1/10, n/30. The merchandise had an inventory cost of $2,700.

22 Of the merchandise sold on July 19, $700 of it was returned. The items had cost the store $350.

28 Received payment in full from the customer of July 19.

31 Paid for the merchandise purchased on July 6.

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