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Required information [The following information applies to the questions displayed below.) Company A has the following transactions during July July 5 Purchases 58 LCD televisions
Required information [The following information applies to the questions displayed below.) Company A has the following transactions during July July 5 Purchases 58 LCD televisions on account from Company B for $3,400 each, terms 2/10, n/30. July 8 Returns to Company B two televisions that had defective sound. July 13 Pays the full amount due to Company B. July 28 Sells remaining 56 televisions from July 5 for $3,900 each on account. 2. Record the period-end adjustment to cost of goods sold on July 31, assuming the company has no beginning or ending inventory. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. ) View transaction list Journal entry worksheet Record period-end adjustment. Note: Enter debits before credits. General Journal Debit Credit Date July 31 Record entry Clear entry View general journal
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