Question 3 (12 marks) This question consists of two separate parts. Part A (7 marks) Caron Butler Ltd uses perpetual inventory system. The following transactions were undertaken during the month of April 2019. 5 April Purchased $70,000 inventory on account from ABC Ltd, terms 2/10, n/30. 7 April Returned $5,500 of the inventory purchased on 5 April to the supplier (ABC Ltd). 12 April Paid the amount due to ABC Ltd. 20 April Sold inventory $120,000 to XYZ Ltd on account, terms 3/5, n/30. The cost of the inventory sold was $80,000 24 April Received cash from XYZ Ltd in settlement of sales on 20 April. Required: Journalise the above transactions in the books of Caron Butler Ltd. Ignore GST. Narrations are not required