LLEGE The following information was presented by the bookkeeper for NorthWave Communications for the month of July 2018, Jul Purchased $217,600 of inventory on account from Beta Wholesalers, terms 2/10, net 30 B Jul a portion of the inventory purchased from Beta Wholesalers was defective. NorthWave returned $560 worth of inventory to the 10 supplier. Jul Sold $95,200 of products to South Shore on account, terms 2/10, net 30; cost of goods sold was $38,080 for this transaction 12 Jul South Shore returned $1,904 of goods purchased on account. The cost of goods sold for the returned inventory is $1,142. 14 Jul Purchased goods from EastCoast Trading Communications on account for $15,500 with terms of 3/10, net 30. 17 Jul Some of the inventory purchased from East Coast Trading Communications was slightly damaged. NorthWave decided to keep the 18 inventory, but will receive a $550 allowance. Jul Sold $46,000 of products to West Island on account, terms 2/10, net 30; cost of goods sold was $18,400 for this transaction. 19 Jul West Island discovered some scratches on some of the products they purchased on Jul 19. They will keep the product and NorthWave 20 will offer a $980 allowance Jul 21 Paid the amount owing to Beta Wholesalers. Remember to account for the return Jul 123 Received payment from South Shore. Remember to account for the return Jul Received payment from West Island. Remember to account for the allowance and discount 24 Jul 25 Paid the amount owing to East Coast Trading Communications Remember to account for the allowance and discount, to search 32 Jul Some of the inventory purchased from East Coast Trading Communications was slightly damaged. NorthWave decided to keep the 18 inventory, but will receive a $550 allowance. Jul Sold $46,000 of products to West Island on account terms 2/10, net 30; cost of goods sold was $18.400 for this transaction 19 Dul West Island discovered some scratches on some of the products they purchased on Jul 19. They will keep the product and NorthWav 20 will offer a $980 allowance. Jul Paid the amount owing to Beta Wholesalers. Remember to account for the return 21 lul Received payment from South Shore. Remember to account for the return 23 Jul Received payment from West Island. Remember to account for the allowance and discount 24 Jul Paid the amount owing to East Coast Trading Communications Remember to account for the allowance and discount. 25 Jul A count of inventory shows that $260 is missing. Make a journal entry to record the inventory shrinkage. 31 Required Prepare the journal entries to record the above transactions. Assume the company uses the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number For transactions that have 2 debits or 2 credits enter the accounts in alphabetical order Date Account Title and Explanation Debit Credit i LLEGE The following information was presented by the bookkeeper for NorthWave Communications for the month of July 2018, Jul Purchased $217,600 of inventory on account from Beta Wholesalers, terms 2/10, net 30 B Jul a portion of the inventory purchased from Beta Wholesalers was defective. NorthWave returned $560 worth of inventory to the 10 supplier. Jul Sold $95,200 of products to South Shore on account, terms 2/10, net 30; cost of goods sold was $38,080 for this transaction 12 Jul South Shore returned $1,904 of goods purchased on account. The cost of goods sold for the returned inventory is $1,142. 14 Jul Purchased goods from EastCoast Trading Communications on account for $15,500 with terms of 3/10, net 30. 17 Jul Some of the inventory purchased from East Coast Trading Communications was slightly damaged. NorthWave decided to keep the 18 inventory, but will receive a $550 allowance. Jul Sold $46,000 of products to West Island on account, terms 2/10, net 30; cost of goods sold was $18,400 for this transaction. 19 Jul West Island discovered some scratches on some of the products they purchased on Jul 19. They will keep the product and NorthWave 20 will offer a $980 allowance Jul 21 Paid the amount owing to Beta Wholesalers. Remember to account for the return Jul 123 Received payment from South Shore. Remember to account for the return Jul Received payment from West Island. Remember to account for the allowance and discount 24 Jul 25 Paid the amount owing to East Coast Trading Communications Remember to account for the allowance and discount, to search 32 Jul Some of the inventory purchased from East Coast Trading Communications was slightly damaged. NorthWave decided to keep the 18 inventory, but will receive a $550 allowance. Jul Sold $46,000 of products to West Island on account terms 2/10, net 30; cost of goods sold was $18.400 for this transaction 19 Dul West Island discovered some scratches on some of the products they purchased on Jul 19. They will keep the product and NorthWav 20 will offer a $980 allowance. Jul Paid the amount owing to Beta Wholesalers. Remember to account for the return 21 lul Received payment from South Shore. Remember to account for the return 23 Jul Received payment from West Island. Remember to account for the allowance and discount 24 Jul Paid the amount owing to East Coast Trading Communications Remember to account for the allowance and discount. 25 Jul A count of inventory shows that $260 is missing. Make a journal entry to record the inventory shrinkage. 31 Required Prepare the journal entries to record the above transactions. Assume the company uses the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number For transactions that have 2 debits or 2 credits enter the accounts in alphabetical order Date Account Title and Explanation Debit Credit