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Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May 13 May 16 May 23 Sold 8 motors at
Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May 13 May 16 May 23 Sold 8 motors at a cost of $45 each to Scruffy Brothers Supply Company, terms 4/10, n/30. The motors cost Charlie $26 each. Date One defective motor was returned to Charlie. Received payment in full from Scruffy Brothers. Journalize the May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.g. 5,275.) Account Titles and Explanation (To record credit sale) Debit Credit
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