Sundance Systems has the following transactions during July. July 5 Purchases 56 LCD televisions on account...
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Sundance Systems has the following transactions during July. July 5 Purchases 56 LCD televisions on account from Red River Supplies for $3,300 each, terms 3/10, n/30. July 8 Returns to Red River two televisions that had defective sound. July 13 Pays the full amount due to Red River. July 28 Sells remaining 54 televisions from July 5 for $3,800 each on account. Required: Record the transactions of Sundance Systems, 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.) View transaction list Journal entry worksheet 2 3 4 > Record purchase of 56 LCD televisions on account from Red River Supplies for $3,300 each, terms 3/10, n/30. Note: Enter debits before credits. Date General Journal Debit Credit July 05 Record entry Clear entry View general journal Sundance Systems has the following transactions during July. July 5 Purchases 56 LCD televisions on account from Red River Supplies for $3,300 each, terms 3/10, n/30. July 8 Returns to Red River two televisions that had defective sound. July 13 Pays the full amount due to Red River. July 28 Sells remaining 54 televisions from July 5 for $3,800 each on account. Required: Record the transactions of Sundance Systems, 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.) View transaction list Journal entry worksheet 2 3 4 > Record purchase of 56 LCD televisions on account from Red River Supplies for $3,300 each, terms 3/10, n/30. Note: Enter debits before credits. Date General Journal Debit Credit July 05 Record entry Clear entry View general journal
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Related Book For
Financial Accounting
ISBN: 978-0077862268
2nd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
Posted Date:
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