B c G M N O 2 3 7 B PROBLEM 1 - ENTRIES USING SPECIAL JOURNALS (48 points) Trimble Company began business on July 1. They use the perpetual inventory method. The following transactions involving purchases, sales, cash disbursements, and cash receipts occurred during July July 1 Purchased $25,000 of merchandise inventory on credit from the Fort City Company, terms 2/10, 1/30. Invoice dated June 28. 2 Sold merchandise for $6,700 on credit to Three Rivers Co., terms 2/10, 1/30, tuvoice no. 1455. Cost of merchandise sold is $3,600. Sold merchandise for $6.700 on credit to Milwaukee Co, terms 2/10, 1/30. Invoice no. 1456. Cost of merchandise sold is $1.800. Returned merchandise costing $1,000 to Fit City Company from the July 1 purchase. 5 Purchased $12.000 of merchandise inventory on credit from the Phoenix Company, terms 2/10, 1/30. Invoice dated July 2. Sold merchandise for $590 for cash to the Madison Co. Invoice no. 1457. Cost of the merchandise sold is $300. Purchased $3,000 of office supplies for cash from Oleason Co. Check no. 1267. 10 Borrowed $10,000 from Lake City Bank on a long-term note payable, 11 Purchased $36,000 of office equipment on credit from Office Minder, terms 1/60. Invoice dated July 3. 12 Received the mount due from the Milwaukee Co. from the sale on July 2. 15 Sold merchandise for $7,200 on credit to the Pare Co., terms 2/10, 1/30. Invoice no. 1458. Cost of the merchandise sold is $4.000 16 Received the mount due from the Three Rivers Co. from the sale on July 2 17 Accepted merchandise returned by Pare Co. from the July 15 sale. Issued a credit memorandum for $1.500. Cost of goods returned is $835 18 Paid the amount due for the merchandise purchased from Port City Company. Check no. 1268. 24 Purchased $14.500 of merchandise inventory for cash from the Shilling Co. Check no. 1269. 28 Sold merchandise on credit for S980 to the Manitowok Co, terms 2/10, 1/30. tovoice no. 1459. Cost of the merchandise sold is $500. Required Use the purchases journal, les journal, cash disbursements journal, cash receipts journal, and the general journal provided to record these transactions