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Required: 1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. 2. Prepare the top section of the multiple-step income statement through
Required: 1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. 2. Prepare the top section of the multiple-step income statement through gross profit for the month of June. Complete this question by entering your answers in the tabs below. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. (If no entry is required for transactionvevent, select "No Journal Entry Required" in the first account field.) At the beginning of June, Circuit Country has a balance in inventory of $2,300. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $2,000, terns 1/15,n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, $260. June 8 Return defective radios to Radio World and receive credit, $300. June 10 Pay Radio World in full. June 11 Selt radios to customers on account, $3,600, that had a cost of $2,500. June 18 Receive payment on account from customers, $2,608. June 20 Purchase radios on account from Sound Unlimited for $3,100, terms 3/10, n/30. June 23 Sell radios to customers for cash, $4,600, that had a cost of $2,980. June 26 Return damaged radios to Sound Unilimited and receive credit of $300. June 28 Pay Sound Unlimited in full. Required: 1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. 2. Prepare the top section of the multiple-step income statement through gross profit for the month of June. Complete this question by entering your answers in the tabs below. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Required: 1. Assuming that Circuit Country uses a perpetual inventory system, record the transactions. 2. Prepare the top section of the multiple-step income statement through gross profit for the month of June. Complete this question by entering your answers in the tabs below. Prepare the top section of the multiple-step income statement through gross profit for the month of June
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