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Prepare a journal entry for the following transactions Gamegirl Inc., has the following transactions during August. August 6 Sold 88 handheld game devices for $290
Prepare a journal entry for the following transactions
Gamegirl Inc., has the following transactions during August. August 6 Sold 88 handheld game devices for $290 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 88 game devices sold, was $270 each. August 10 DS Unlimited returned eight game devices purchased on 6th August since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Inc., 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 1 Record the sale of inventory on account. 2 Record the cost of inventory sold. DS Unlimited returned eight game devices purchased on 6th August since they were defective. 4 Received full amount due from DS Unlimited. Credit Journal entry worksheet Record the cost of inventory sold. Note: Enter debits before credits. Debit Credit Date August 06 General journal Cost of goods sold Inventory Record entry Clear entry View general journalStep by Step Solution
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