Chapter 6 Assignment 15 Required informatiorn Part 3 of 3 Problem 6-9A Record transactions and prepare a partial income statement using a periodic inventory system (LO6-8) The folowing mformation applies to the questions displayed below At the beginning of July. CD City has a balance in inventory of $3,400. The following transactions occur duning the month 10 polnts of July July 3 Purchase CDs on account from Whclesale Music for $2, 300, terms 1/10, n/30, July Musie, $11 d Pay cash for freight chargee rolated to the July 3 purchaze Erom holezale uly 9 Return incorrectly ordered eds to wholesale Music and recaive credit, $200. July 11 Pay wholesale Music in full. July 12 Sell CDs to July 15 Receive full payment from July 18/ Purchase CDs Erom customers on account, $s, 800, that had a cost of 53,000. customers related to the sale on July 12 on account Erom Music Supply Eor $3,100, terms 1/10, n/30 omers for cash, S4,200, that had acost of Sa, 500. July 22 Sell CDs to cust July 28 Return cDs to Music Supply and recaive credit ot s300. July 30 Pay Music Supply in full. Problem 6-9A Part 3 3. Prepare the top section of the multiple-step income statement through gross profit for the month of July CD CITY Multiple-step Income Statement (partial For the month of Cost of goods sold nmint Chapter 6 Assiqnment The SoWowing information apples to the questions desplayed below Ai the beginning of July, CD City has a balance in inwentory of $3,900 The folowing carsactions occur durning the month of July. July 3 Purchase cDs on account from Wholesale Husic tor 2, 300, tezms 1/10, n/30 July Pay cash for freight chargas rolated to tha duly 3 purchase fron wheleaale Pan 3 of 3 Music, $11 Jaly 9 Rsturn incorrectly ordered cs to Wholesale Music and recmive credit, 8200 July 11 Pay Wholesale Music in ful1 July 12 se1l CDs to custonera on account, $5,800, that had a cost of 33,00D. July 15 Receive full payuent from eustoners rwlated to the sale on Tuly 12 July 18 Purchase CDs on account fron Musie Supply for 53,10o, tens 3/10, n/30 July 22 sell CDs to eustaners for cash, $4,200, that had a coss o 52.500. July 28 Return CDs to Husie Supply and raceive ceedst of 5300 July 20 Return CDs July 30 Pay Music Supply in full Problem 6-9A Part 3 3 Prepare the top section of the matiplke-step Income staiement through gross proft for the month of July Reterence Maligle step ocome Siatemest (oartal Cosi of goods sold tleginnring iverdory Cost of gosds aralable fer Cest of goods sold Ned D ene OLL ak me anythng July 3 Purchase cDs on account. Irem Wholesale Music for $2,300, terms 1/10, n/30. July 4 Pay cash tor freight charges related to tha July 3 purchase fron Wholesale Music, $110. uly 9 Raturn incotrectly ordored cDs to wholesale Music and receive cradit, $200. Pert 3 of 3 July 12 Sell cDs to custoners on account,$5, 800, that had a cost of $3,000. July 15 Receive full payment from custoners related to the sale on uly 12. July 18 Purchase CDa on account from Music Supply tor 53.100, terns 1/10, n/30. July 22 Sell CDa to customers for cash, $4,20o, that had a cost of $2, 500. July 28 Roturn CDa to Music Supply and receiva credit of $300. July 30 Day Music Supply in full 10 points Problem 6-9A Part 3 eBook3 3. Prepare the top section of the multiple-step income statement through gross profit for the month of July Multiple-step Income Statement (partial) For the of Cost of goods sold ning i Cost of goods available for sale Cost of goods sold 15 of 15 Neat