Accounts Receivable 5,200 8 July 18 2,800 Inventory Accounts Payable 2,800 9 July 22 3,900 Accounts Receivable Sales Revenue 3,900 10 July 22 2,200 > Cost of Goods Sold Inventory 2,200 11 S July 28 240 Accounts Payable Inventory 240 12 X July 30 2,560 Inventory Accounts Payable 2,560 Required information Problem 6-3A Record transactions and prepare a partial income statement using a perpetual inventory system (L06-2, 6-5) [The following information applies to the questions displayed below.) At the beginning of July, CD City has a balance in inventory of $3,100. The following transactions occur during the month of July July 3 Purchase CDs on account from Wholesale Music for $2,000, terms 1/10, 1/30. July 4 Pay cash for freight charges related to the July purchase from Wholesale Music, $110 July 9 Return incorrectly ordered CDs to Wholesale Music and receive credit, $300. July 11 Pay Wholesale Music in tull. July 12 Sell CDs to customers on account, 55,200, that had a cost of $2,700. July 15 Receive full payment from customer related to the sale on July 12. July 18 Purchase CDs on account from Music Supply for $2,800, terms 1/10, n/30. July 22 Sell cos to customers for cash, $3.90 that had a cost of $2,200. July 28 Return CDs to Music Supply and receive credit of $240. July 30 Pay Music Supply in full. Problem 6-3A Part 1 View transaction list Journal entry worksheet 1 5 6 7 8 10 11 12 Record payment of MusicSupply in full. Note: Enter debits before credits. Debit Credit Date General Journal July 30 Inventory Accounts Payable 2,560 2,560 Record entry Clear entry View general Journal