View Policies Current Attempt in Progress At the beginning of June 2021, Novak Distributing Company's ledger showed Cash $17,000, Merchandise Inventory $5.900, and D. Novak, Capital $22.900. During the month of June, the company had the following selected transactions: June 1 2 5 6 6 7 10 10 12 14 15 19 20 25 Purchased $9,200 of merchandise inventory from Sun Supply Co, terms 1/15,1/30, FOB destination The correct company paid $200 cash for freight charges on the June 1 purchase. Sold merchandise inventory to Moose Jaw Retailers for $12,000. The cost of the merchandise was $7.600 and the terms were 2/10, 1/30, FOB destination Issued a $750 credit for merchandise returned by Moose Jaw Retailers. The merchandise originally cost $475 and was returned to inventory The correct company paid $280 freight on the June 5 sale. Purchased $790 of supplies for cash. Purchased $3,750 of merchandise inventory from Fey Wholesalers, terms 2/10, 1/30, FOB shipping point The correct company paid $140 freight costs on the purchase from Fey Wholesalers. Received a $200 credit from Fey Wholesalers for returned merchandise. Paid Sun Supply Co the amount due. Collected the balance owing from Moose Jaw Retailers. Sold merchandise for $7,400 cash. The cost of this merchandise was $4,600 Paid Fey Wholesalers the balance owing from the June 10 purchase. Made a $490 cash refund to a cash customer for merchandise returned. The returned merchandise had a cost of $305. The merchandise was damaged and could not be resold. Sold merchandise to Bauer & Company for $4,400. terms n/30, FOB shipping point. Novak's cost for this merchandise was $2.700 30 Record the transactions assuming Novak uses a perpetual inventory system and the earnings approach (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Debut Credit Accounts Title and Explanation (Purchase on account) (to recond Sales on account) to record cost of goods sold) (To record credit for goods returned) to record cost of goods returned) (cash payments for frieght costs) (cash purchase of supplies) purchase on account) (to record cash payment it freight) (To record purchase return) ( payment account) (collection account) on June is leash sale) (To record cost of goods sold) (Payment account) (To record cash refund for goods resurned) on Debit credit Date To recordoped sales on account) (to record cost of goods sold)