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DS Unlimited has the following transactions during August. August 6 Purchases 52 handheld game devices on account from GameGirl, Incorporated, for $110 each, terms 2/10,
DS Unlimited has the following transactions during August.
August 6 | Purchases 52 handheld game devices on account from GameGirl, Incorporated, for $110 each, terms 2/10, n/60. |
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August 7 | Pays $310 to Sure Shipping for freight charges associated with the August 6 purchase. |
August 10 | Returns to GameGirl seven game devices that were defective. |
August 14 | Pays the full amount due to GameGirl. |
August 23 | Sells 32 game devices purchased on August 6 for $130 each to customers on account. The total cost of the 32 game devices sold is $3,670.00. |
SS Unlimited has the following transactions during August. August 6 Purchases 52 handheld game devices on account from Gamegirl, Incorporated, for $110 each, terms 2/10, n/60. August 7 Pays $310 to Sure Shipping for freight charges associated with the August 6 purchase. August 10 Returns to Gamegirl seven game devices that were defective. August 14 Pays the full amount due to GameGir1. August 23 Sells 32 game devices purchased on August 6 for $130 each to customers on account. The total cost of the 32 game devices sold is $3,670.00. Required: 1. Record the transactions of DS Unlimited, assuming the company uses a periodic inventory system. 2. Record the period-end adjusting entry to cost of goods sold on August 31, assuming the company has no beginning inventory and ending inventory has a cost of $1,491. Complete this question by entering your answers in the tabs below. Record the transactions of DS Unlimited, assuming the company uses a periodic inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record purchase of 52 handheld game devices on account from GameGirl, Incorporated, for $110 each, terms 2/10,n/60. Note: Enter debits before credits. DS Unlimited has the following transactions during August. August 6 Purchases 52 handheld game devices on account from Gamegirl, Incorporated, for $110 each, terms 2/10, n/60. August 7 Pays $310 to Sure Shipping for freight charges associated with the August 6 purchase. August 10 Returns to Gamegirl seven game devices that were defective. August 14 Pays the full amount due to GameGirl. August 23 Sells 32 game devices purchased on August 6 for $130 each to customers on account. The total cost of the 32 game devices sold is $3,670.00. Required: 1. Record the transactions of DS Unlimited, assuming the company uses a periodic inventory system. 2. Record the period-end adjusting entry to cost of goods sold on August 31 , assuming the company has no beginning inventory and ending inventory has a cost of $1,491. Complete this question by entering your answers in the tabs below. Record the period-end adjusting entry to cost of goods sold on August 31, assuming the company has no beginning inventory and ending inventory has a cost of $1,491. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Note: Enter debits before credits
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