DS Unlimited has the following transactions during August. August 6 Purchases 88 handheld game devices on...

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DS Unlimited has the following transactions during August. August 6 Purchases 88 handheld game devices on account from GameGirl, Inc., for $290 each, terms 1/10, n/60. August 7 Pays $490 to Sure Shipping for freight charges associated with the August 6 purchase. August 10 Returns to GameGirl eight game devices that were defective. August 14 Pays the full amount due to GameGirl. August 23 Sells 68 game devices purchased on August 6 for $310 each to customers on account. The total cost of the 68 game devices sold is $19,939.30. Required: . Record the transactions of DS Unlimited, assuming the company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) DS Unlimited has the following transactions during August. August 6 Purchases 88 handheld game devices on account from GameGirl, Inc., for $290 each, terms 1/10, n/60. August 7 Pays $490 to Sure Shipping for freight charges associated with the August 6 purchase. August 10 Returns to GameGirl eight game devices that were defective. August 14 Pays the full amount due to GameGirl. August 23 Sells 68 game devices purchased on August 6 for $310 each to customers on account. The total cost of the 68 game devices sold is $19,939.30. Required: . Record the transactions of DS Unlimited, assuming the company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Answer rating: 100% (QA)

Inventory 255220 debit Account Payable 25520 credit to record purchase from ... View the full answer