The following are recent merchandising transactions of Lamprino Appliance Co

June 3 Purchased 10 televisions from Mitsu Industries on account for $300 per unit. The term is 2/10, n30. FOB shipping point. Lamprino paid $100 to an independent logistic company for freight cost.

June 4 Returned one unit of television to Mitsu Industries because of defection in the TV picture tube.

June 5 Sold three of Mitsu televisions for $650 cash each on account with terms: 3/10, n30. to DDP who paid for its freight cost of $50.

June 10 DDP returned a set of the television because of a spoilt capacitor.

June 13 Paid Mitsu Industries for the June 3 purchases.

June 14 Purchased 15 sets of television on credit, terms; 2/10, n30 from EXW Electronic Industry. The cost was $280 per set.

June 14 Received payment from DDP Company for the amount due on June 5 purchase.

June 19 Sold 8 sets of EXW Electronic purchases for cash at $650 to walk-in customers.

June 20 Four of the TV set sold on June 19 were returned by the customer for a cash refund. The TVs were not defective but the return was within the companys return policy of non-satisfaction.

June 24 Paid EXW for the amount owed for the April 14 purchases.

A physical inventory count taken on May 31 showed two (2) sets of Mitsu television on hand.

Required:

a) Prepare journal entries to record the above transactions of Lamprino Appliance Co based on the perpetual inventory system.

b) How many television sets were on hand on June 30?