At the beginning of July, CD City has a balance in inventory of $3,250. The following transactions occur during the month of July. July 3 Purchase CDs on account from Wholesale Music for $2,150, terms 2/10, n/30. July 4 Pay cash for freight charges related to the July 3 purchase from Wholesale Music, $110. July 9 Return incorrectly ordered CDs to Wholesale Music and receive credit, $300. July 11 Pay Wholesale Music in full. July 12 Sell CDs to customers on account, $5,500, that had a cost of $2,850. July 15 Receive full payment from customers related to the sale on July 12. July 18 Purchase CDs on account from Music Supply for $2,950, terms 2/10, n/30. July 22 Sell CDs to customers for cash, $4,050, that had a cost of $2,350. July 28 Return CDs to Music Supply and receive credit of $270. July 30 Pay Music Supply in full. Required: 1. Assuming that CD City 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 2 3 5 > 6 7 8 12 Record purchase of CDs on account from Wholesale Music for $2,150, terms 2/10, 1/30 Note: Enter debits before credits General Journal Debit Credit Date July 03 YAVE JUALUE JUAL LA July 30 Pay Music Supply in full. Required: 1. Assuming that CD City 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 receipt of full payment from customers related to the sale on July 12. ces Note: Enter debits before credits Date General Journal Dobit Credit July 15 Record entry Clear entry View general Journal WAV LILULUI V. LU JA www July 30 Pay Music Supply in full. Required: 1. Assuming that CD City 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 purchase of CDs on account from Music Supply for $2,950, terms 2/10, n/30 ences Note: Enter debits before credits General Journal Debit Credit Date July 18 Record entry Clear entry View general journal U Jawu HIM July 30 Pay Music Supply in full. Required: 1. Assuming that CD City 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 4 7 8 9 12 Sell CDs to customers for cash, $4,050, that had a cost of $2,350. Record the sale of Inventory for cash. Note: Enter debits before credits. General Journal Dobit Credit Date July 22 Record entry Clear entry View general Journal AL LULU 1 July 30 Pay Music Supply in full. Required: 1. Assuming that CD City 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 Sell CDs to customers for cash, $4,050, that had a cost of $2,350. Record the cost of inventory sold. Les Note: Enter debits before credits. General Journal Debit Credit Data July 22 Record entry Clear entry View general Journal HALIM July 30 Pay Music Supply in full. Required: 1. Assuming that CD City 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 1 5 8 9 10 11 12 > Record return of CDs to Music Supply and receive credit of $270. Note: Enter debits before credits General Journal Debit Date July 28 Credit Record entry Clear entry View general journal JAUME ALUM July 30 Pay Music Supply in full. Required: 1. Assuming that CD City 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
