THE FOLLOWING INFORMATION RELATES TO QUESTIONS 7 TO Type Ltd is a woman's clothing merchandising company You are a member of Type Ltd's financial reporting team and responsible for processing inventory transactions in the financial statements for the year ended 30 June 2021. Type d us per inventory system The warehouse manager emailed through to you the following sales return and allorance information. During the 2021 financial year, the original sales and inventory transactions were recognized in Type Ltd's general ledger system. Reason Return date Selling Original price cost $ $ 29 Courier damaged all 1,700 600 June inventory items 2021 before Customer A21 took delivery. 2.200 800 30 Customer A15 June returned unused 2021 inventory at end of Winter season Inventory items were undamaged Ats Recommended time to complete: 7 minutes Explain how and why the accounting for these events will impact Type Ltd's 30 June 2011: (a) Profit before income tax expense (2 marks); and (b) Assets (2 marks) Edit View Insert Format Tools Table 12pt Paragraph BIU A Toba Question 7 Recommended time to complete: 7 minutes Required: Prepare the journal entries in relation to these events in Type Ltd's 30 June 2021 financial statements. Narrations are required. Show all calculation workings. Ignore GST. Note: In your answer it is advisable to build a table with headings. Below is a suggested form of presentation. Use the table tool ( 3 ) to build the table and enter your answer into the table. Additional lines maybe required. Workings can be included below the table. Debit $ Credits Date Details