O Required information Problem 6-3A Record transactions and prepare a partial income statement using a perpetual inventory system (L06-2, 6-5) The following information applies to the questions displayed below) At the beginning of July. CD City has a balance in inventory of $3,300. The following transactions occur during the month of July July 3 Purchase cos on account from Wholesale Music for $2,200, terms 1/10, n/30. July 4 Pay cash for freight charges related to the July 3 purchase from Wholesale Music, $120. July 9 Return incorrectly ordered CDs to Wholesale Music and receive credit, $200 July 11 Pay Wholesale Music in full. July 12 5ell cos to customers on account, $5,600, that had a cost of $2,900. July 15 Receive full payment from customers related to the sale on July 12 July 18 Purchase CDs on account from Music Supply for $3,000, terns 1/10, 1/30. July 22 Sell CDs to customers for cash, 54,100, that had a cost of $2,400. July 28 Return CDs to Music Supply and receive credit of $280. July 30 Pay Music Supply in full. sed Problem 6-3A Part 2 OK 2. Prepare the top section of the multiple-step income statement through gross profit for the month of July. ncer CD CITY Multiple-step Income Statement (partial) For the month of July