Problem 6-3B Record transactions and prepare a partial income statement using a perpetual inventory system (LO6-2, 6-5)

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At the beginning of June, Circuit Country has a balance in inventory of $2,750. The following transactions occur during the month of June.

1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record payment to Sound Unlimited in full. Note: Enter debits before credits. Credit Date June 28 General Journal Accounts Payable Cash Debit 2,000 2,000 Problem 6-3B Part 1 Required: 1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. No Date General Journal Credit Debit 2,450 June 02 Inventory Accounts Payable 2,450 June 04 350 Freight-in Cash 350 June 08 Accounts Payable 200 June 26 Return damaged radios to Sound Unlimited and receive credit of $300. June 28 Pay Sound Unlimited in full. Problem 6-3B Part 2 2. Prepare the top section of the multiple-step income statement through gross profit for the month of June. Answer is not complete. CIRCUIT COUNTRY Multiple-step Income Statement (partial) For the month of June Net Loss Cost of Good Sold