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Matlock Company uses a perpetual inventory system. Its beginning inventory consists of 72 units that cost $49 each. During June, (1) the company purchased 216
Matlock Company uses a perpetual inventory system. Its beginning inventory consists of 72 units that cost $49 each. During June, (1) the company purchased 216 units at $49 each, (2) returned 9 units for credit, and (3) sold 180 units at $72 each. Journalize the June transactions. (If no entry is required, select "No entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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