On June $5,$ Staley Electronics purchases $200$ units of inventory on account for $$20$ each. After closer exatmination, Staley determines $40$ units are defective and returns them to its supplier for full credit on June $9.$ All remaining inventory is sold on account on June $16$ for $$35$ each.

Required:

Record transactions for $($a$)$ the purchase of inventory on account, $($b$)$ the return of defective inventory, and $($c$)$ the sale of inventory on account using a perpetual system. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

Record the purchase of inventory on account.

Note: Enter debits before credits.

$\backslash$table$[[$S$.$No$/$Date$,$Account Title,Debit,Credit$],[$June $05,,,],[,,,],[,,,],[,,,],[,,,]]$On June $5,$ Staley Electronics purchases $200$ units of inventory on account for $$20$ each. After closer exatmination, Staley determines $40$ units are defective and returns them to its supplier for full credit on June $9.$ All remaining inventory is sold on account on June $16$ for $$35$ each.

Required:

Record transactions for $($a$)$ the purchase of inventory on account, $($b$)$ the return of defective inventory, and $($c$)$ the sale of inventory on account using a perpetual system. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

Record the purchase of inventory on account.

Note: Enter debits before credits.

$\backslash$table$[[$S$.$No$/$Date$,$Account Title,Debit,Credit$],[$June $05,,,],[,,,],[,,,],[,,,],[,,,]]$