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Exercise 6-10 (Algo) Record transactions using a perpetual system (LO6-5) Sundance Systems has the following transactions during July. July 5 Purchases 54 LCD televisions
Exercise 6-10 (Algo) Record transactions using a perpetual system (LO6-5) Sundance Systems has the following transactions during July. July 5 Purchases 54 LCD televisions on account from Red River Supplies for $3,200 each, terms 2/10, n/30. July 8 Returns to Red River six televisions that had defective sound. July 13 Pays the full amount due to Red River. July 28 Sells remaining 48 televisions from July 5 for $3,700 each on account. Required: Record the transactions of Sundance Systems, 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.) View transaction list Journal entry worksheet 1 2 345 Record purchase of 54 LCD televisions on account from Red River Supplies for $3,200 each, terms 2/10, n/30. Note: Enter debits before credits. Date July 05 General Journal Debit Credit Record entry Clear entry View general journal >
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