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Coronado Company uses a perpetual inventory system. Its beginning inventory consists of 80 units that cost $54 each. During June, (1) the company purchased 240
Coronado Company uses a perpetual inventory system. Its beginning inventory consists of 80 units that cost $54 each. During June, (1) the company purchased 240 units at $54 each on account, (2) returned 10 units for credit, and (3) sold 200 units at $80 each on account. Journalize the June transactions. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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