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Record purchase of radios on account from Radio World for $1,700, terms 1/15,n/45. Note: Enter debits before credits. Record return of damaged radios to Sound Unlimited and receipt of credit of $300. Enter debits before credits. Record purchase of radios on account from Sound Unlimited for $2,800, terms 3/10,n/30. Note: Enter debits before credits. Record payment to Radio World in full. Note: Enter debits before credits. Record payment of cash for freight charges related to the June 2 purchase from Radio World, \$200. te: Enter debits before credits. Record payment to Sound Unlimited in full. Note: Enter debits before credits. CIRCUIT COUNTRY Multiple-Step Income Statement (partial) For the Month of June Sell radios to customers on account, $3,000, that had a cost of $2,200. Record the sale of inventory on account. Enter debits before credits. Record receipt of payment on account from customers, $2,000. Note: Enter debits before credits. Record return of defective radios to Radio World and receipt of credit, $300. Jote: Enter debits before credits. Problem 6-3B (Algo) Record transactions and prepare a partial income statement using a perpetual inventory system (LO6-2, 6-5) At the beginning of June, Circuit Country has a balance in inventory of $2,000. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $1,700, terms 1/15, n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, $200. June 8 Return defective radios to Radio World and receive credit, $300. June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $3,000, that had a cost of $2,200. June 18 Receive payment on account from customers, $2,000. June 20 Purchase radios on account from Sound Unlimited for $2,800, terms 3/10, n/30. June 23 Sell radios to customers for cash, $4,300, that had a cost of $2,600. June 26 Return damaged radios to Sound Unlimited and receive credit of $300. June 28 Pay Sound Unlimited in full. Required: 1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. 2. Prepare the top section of the multiple-step income statement through gross profit for the month of June

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