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1. Record the following transactions for Sparky’s Pet Shop using the general journal form provided below. Assume Sparky’s uses a perpetual inventory system. Omit transaction descriptions from entries: Date ransaction uly 3 Sold merchandise on account for $3,750. The cost of the merchandise sold was $2,000 July 5 July 12 August 1 August 3 August 7 August 10 August 11 August 20 lissued credit memo for the $1,050 for merchandise returned from sale on July 3. The cost of the merchandise returned was $610. Received check for the amount due for sale of July 3 less return on July 5. Purchased $6,000 of merchandise on account, terms 2/10, n/30. Returned S1,500 of merchandise purchased on August 1 due to defects. Recorded cash sales for the first week of August, $9,750 plus 6% sales taxes; cost of the merchandise was $4,000. Made sale on account to a local breeder for $500, terms 1/10 net 30; cost of the merchandise was $200 Paid for the merchandise purchased on August I, less return. Received payment from sale of August 10.