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Company A has the following transactions during July. July 5 Purchases 42 LCD televisions on account from Company B for $2,600 each, terms 2/10, n/30.
Company A has the following transactions during July. July 5 Purchases 42 LCD televisions on account from Company B for $2,600 each, terms 2/10, n/30. July 8 Returns to Company B four televisions that had defective sound. July 13 Pays the full amount due to Company B. July 28 Sells remaining 38 televisions from July 5 for $3,100 each on account. Required: Record the transactions of Company A, assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 5 Record purchase of 42 LCD televisions on account from Company B for $2,600 each, terms 2/10,n/30. Note: Enter debits before credits. Record the return to Company B of four televisions that had defective sound. Note: Enter debits before credits. Record payment of the full amount due to Company B. Note: Enter debits before credits. Record the sale of all inventory purchased on July 5 (less those returned on July 8) for $3,100 on account. Note: Enter debits before credits. Note: Enter debits before credits
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