Q1 ch8

CH8 HW: Inventory Question 1 of 8 View Policies Current Attempt in Progress (1) Blue Company uses a perpetual inventory system. Its beginning inventory consists of 105 units that cost $71 each. During June (1) t company purchased 315 units at $71 each on account, (2) returned 13 units for credit, and (3) sold 263 units at $105 each on account. (2) > Journalize the June transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (3) To record sales! -/1 Debit E Credit Question 1 of 81 No. Account Titles and Explanation (1) (2) (3) (To record sales) (To record cost of goods sold) Debit Credit -/1 MI E