12 Required information Problem 6-3A Record transactions and prepare a partial income statement using a perpetual inventory Part 2 of 2 system (LO6-2, 6-5) IThe following information applies to the questions displayed below) ints At the beginning of July. CD City has a balance in inventory of $3,400. The following transactions occur during the month of July July 3 Purchase CDs on account fro"wholesale Music for %2,300, terms 1/1o, n/30. uly 4 Pay cash for freight charges related to the July 3 purchase from Wholesale Husic, $110 July 9 Return incorrectly ordered CDs to Wholesale Music and receive credit, 3200. uly 11 Pay hholesale Music in full uly 12 Sell uly July 18 Purchase CDs on account from Music Supply for CDs to customers on account, 55,809, that had a cost of $3,e00. 15 Receive full paynent from customers related to the sale on July 12. $3,100, terns 1/10, n/3o. o custoners for cash, $4,200, that had a cost of $2,500. July 28 Return CDs to Music Supply and receve credit of 300. July 38 Pay Music Supply in full, Problem 6-3A Part 2 July 30 Pay Music Supply in full. Problem 6-3A Part 2 2. Prepare the top section of the multiple-step income statement through gross profit for the month of July Answer is not complete. CD CITY Multiple-step Income Statement (partial) For the month of July Net Sales Cost of Goods Sold Utilities Payable 9 200 5,500 3,700 K Prey