12A. Smart Computers has the following transactions in July related to purchase and sale of merchandise inventory. (Click the icon to view the transactions.) Journalize the transactions for Smart Computers assuming that the company uses the periodic inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jul. 1: Purchase of $25,000 worth of computers on account, terms 1/10, n/60. Date Accounts Debit Credit Jul. 1 Jul. 3: Return of $500 of the computers to the vendor. Date Accounts Debit Credit Jul. 3 More info Jul. 9: Payment made Date Jul. 9 July 1 Purchase of $25,000 worth of computers on account, terms of 1/10,n/60. 3 Return of $500 of the computers to the vendor. 9 Payment made on account. 12 Sold computers on account for $18,000 to a customer, terms 1/15, n/60. 21 Accepted a $1,400 return from a customer. 26 Received payment from customer on balance due. Jul. 12: Sold computers Date Print Done Jul. 12 Jul. 21: Accepted a $1,400 return from a customer. Date Accounts Debit Credit Jul. 21 Jul. 26: Received payment from customer on balance due. Date Accounts Debit Credit Jul. 26 12A. Smart Computers has the following transactions in July related to purchase and sale of merchandise inventory. Click the icon to view the transactions.) Journalize the transactions for Smart Computers assuming that the company uses the periodic inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jul. 1: Purchase of $25,000 worth of computers on account, terms 1/10, n/60. Date Accounts Debit Credit Jul. 1 Jul. 3: Return of $500 of the computers to the vendor. Date Accounts Debit Credit Jul. 3 Jul. 9: Payment made on account. Date Accounts Debit Credit Jul. 9 Jul. 12: Sold computers on account for $18,000 to a customer, terms 1/15, n/60. Date Accounts Debit Credit Jul. 12 Jul. 21: Accepted a $1,400 return from a customer. Date Accounts Debit Credit Jul. 21 Jul. 26: Received payment from customer on balance due. Date Accounts Debit Credit Jul. 26