8. Quell Computers has the following transactions in July related to the sale of merchancise inventory Click the icon to view the transactions.) Joumalize the sales transactions for Quell Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Assume the company records sales at the net amount.) Jul. 3: Sold computers on account for $11,600 to Scarton Auto Store, terms 2/15, n/45. The cost of the computers is $6,960. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step Accounts and Explanation Debit Credit Date Jul. 3 Now joumaize the expense related to the July 3 sale, Date Accounts and Explanation Debit Credit Jul. 3 Jul. 5: Sold two computers for $3,000 to Al Hart. The cost of the computers is $1,800. Hart paid cash. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts and Explanation Debit Credit Jul. 5 Now journalize the expense related to the July 5 sale. Date Accounts and Explanation Debit Credit Jul. 5 Jul. 12: Received full payment from Scarton Auto Store on the balance due. Date Accounts and Explanation Debit Credit Jul. 12 Choose from any list or enter any number in the input fields and then continue to the next question. Jul. 15: Hart returned one computer from the July 5 sale. The computer sold for $1,500 and the cost was $900. Quell Computers issued a refund to the customer. Begin by recording the refund to the customer. Do not record the return of the merchandise inventory yet. We will do that in the following step. Date Accounts and Explanation Debit Credit Jul. 15 Now journalize the return of the merchandise inventory from the July 15 return. Date Accounts and Explanation Debit Credit Jul. 15 Choose from any list or enter any number in the input fields and then continue to the next question. i More Info July 3 July 5 Sold computers on account for $11,600 to Scarton Auto Store, terms 2/15, n/45. The cost of the computers is $6,960. Sold two computers for $3,000 to Al Hart. The cost of the computers is $1,800. Hart paid cash. Received full payment from Scarton Auto Store on the balance due. Hart returned one computer from the July 5 sale. The computer sold for $1,500 and the cost was $900. Quell Computers issued a refund to the customer. July 12 July 15 Print Done