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8. Quad Computers has the following transactions in July related to the sale of merchandise inventory. (i) (Click the icon to view the transactions.) Joumalize the sales transactions for Quad Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table. Assume the company records sales at the net amount.) Jul. 3: Sold computers on account for $11,000 to Surely Auto Store, terms 1/15,n/60. The cost of the computers is $6,600. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Now iournalize the expense related to the July 3 sale. Jul. 5: Sold two computers for $1,600 to Abe Hawley. The cost of the computers is $960. Hawley paid cash. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. 8. Quad Computers has the following transactions in July related to the sale of merchandise inventory. (i) (Click the icon to view the transactions.) Journalize the sales transactions for Quad Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table. Assume the company records sales at the net amount.) Jul. 5: Sold two computers for $1,600 to Abe Hawley. The cost of the computers is $960. Hawley paid cash. Begin by preparing the entry to joumalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Now joumalize the expense related to the July 5 sale. 8. Quad Computers has the following transactions in July related to the sale of merchandise inventory. (Click the icon to view the transactions.) Journalize the sales transactions for Quad Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Assume the company records sales at the net amount.) Jul. 12: Received full payment from Surely Auto Store on the balance due. Jul. 15: Hawley returned one computer from the July 5 sale. The computer sold for $800 and the cost was $480. Quad Computers issued a refund to the customer. Begin by recording the refund to the customer. Do not record the return of the merchandise inventory yet. We will do that in the following step. 8. Quad Computers has the following transactions in July related to the sale of merchandise inventory. (1) (Click the icon to view the transactions.) Joumalize the sales transactions for Quad Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Assume the company records sales at the net amount.) Jul. 15: Hawley returned one computer from the July 5 sale. The computer sold for $800 and the cost was $480. Quad Computers issued a refund to the customer. Begin by recording the refund to the customer. Do not record the return of the merchandise inventory yet. We will do that in the following step. 8. Quad Computers has the following transactions in July related to the sale of merchandise inventory. (1) (Click the icon to view the transactions.) Joumalize the sales transactions for Quad Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Assume the company records sales at the net amount.) Begin by preparir Jul. 5: Sold two computers for $1,600 to Abe Hawley. The cost of the computers is $960. Hawley paid cash. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step
