Exercise 6-7 Record inventory purchase and purchase return using a perpetual system (LO5)

On June 5, Staley Electronics purchases 170 units of inventory on account for $17 each. After closer examination, Staley determines 30 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 $29 each.

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.)