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i need help solving solving multiple step income statements for the month of july 15 Required information Problem 6-9A Record transactions and prepare a partial
i need help solving solving multiple step income statements for the month of july
15 Required information Problem 6-9A Record transactions and prepare a partial income stetement using a periodic inventory system (LO6-8) The following information applies to the questions displayed belowj 3 of 3 At the beginning of July. CD City nas a balance in inventory of $3.400. The following transactions occur during the month of July July 3 Purchase Cos on account from uholesale Music for s2, 3e0, teras 1/10, n/se. July 4 Pay cash for freight charges related to the July 3 purchase fror uholesale Music, s11e. July 9 Return incorrectly ordered CDs to wholesale July 11 Pay sholesale Music in full July 12 Sell CDs to customers on account, $s, sae, that had a cost of 53,e00. July 15 Receive full payment from custoners related to the sale on July 12. July 18 Purchase cos on account fron Music Supply for$1,100, terms 1/1,n/30, uly 22 Sell cDs to custoners for cash, $A,280, that had a cost of $2,580 sic and receive credit, $280. Duly 28 Return CDS to Music Supply and receive sredit of $3. Problem 6-9A Part 3 Problem 6-9A Part 3 3. Prepare the top section of the multiple step income statement through gross profit for the month of July 3 Answer is not complete. CD CITY Multiple-step Income Statement (partial) For the month of July Net sales S10.0 S10,000 Cost of goods sold Beginnin Cost of 5tods available for sale 5,500 S 4,500 C Cost of goods sold Gross profitStep by Step Solution
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