Exercise 6-7 Record inventory purchase and purchase return using a perpetual system (LO6-5) On June 5, Staley Electronics purchases 200 units of inventory on account for $20 each. After closer examination, Staley determines 40 units are defective and returns them to its supplier for full credit on June 9. All remaining inventory is sold on account on June 16 for $35 each Required: Record transactions for the purchase, return, and sale of inventory assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 3 4 Record the purchase of inventory on account. Note: Enter debits before credits. Date General Journal Debit Credit June 05