Required information (The following information applies to the questions displayed below.) At the beginning of July, CD City has a balance in inventory of $2,450. The following transactions occur during the month of July July 3 Purchase CDs on account from Wholesale Music for $1,350, terms 2/10, n/30. July 4 Pay cash for freight charges related to the July 3 purchase from Wholesale Music, $110. July 9 Return incorrectly ordered CDs to Wholesale Music and receive credit, $200. July 11 Pay Wholesale Music in full. July 12 Sell CDs to customers on account, $3,900, that had a cost of $2,050. July 15 Receive full payment from customers related to the sale on July 12. July 18 Purchase CDs on account from Music Supply for $2,150, terms 2/10, n/30. July 22 Sell CDs to customers for cash, $3,250, that had a cost of $1,550. July 28 Return CDs to Music Supply and receive credit of $110. July 30 Pay Music Supply in full. Required: 1. Assuming that CD City 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.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 12 Required: 1. Assuming that CD City 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.) View transaction list Journal entry worksheet HERE Record purchase of CDs on account from Wholesale Music for $1,350, terms 2/10, n/30. Note: Enter debits before credits General Journal Debit Credit Date July 03 Record entry Clear entry View general Journal Required: 1. Assuming that CD City 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.) 2 View transaction list Journal entry worksheet 2 3 4 5 book 8 6 7 > HERRE 12 Tint rences Record payment of cash for freight charges related to the July 3 purchase from Wholesale Music, $110. Note: Enter debits before credits General Journal Debit Credit Date July 04 Record entry Clear entry View general Journal Required: 1. Assuming that CD City 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.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 12 Record return of Incorrectly ordered CDs to Wholesale Music and receive credit, $200. Note: Enter debits before credits Date General Journal Debit Credit July 09 Record entry Clear entry View general Journal Required: 1. Assuming that CD City 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.) 2 View transaction list Journal entry worksheet Print Terences Sell CDs to customers on account, $3,900, that had a cost of $2,050. Record the sale of inventory on account. Note: Enter debits before credits Date General Journal Debit Credit July 12 Racord entry Clear entry View general Journal Required: 1. Assuming that CD City uses a perpetual inventory system, record the transactions. (If no Intry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Sell CDs to customers on account, $3,900, that had a cost of $2,050. Record the cost of Inventory sold. Note: Enter debits before credits General Journal Debit Date July 12 Credit Record entry Clear entry View general Journal Required: 1. Assuming that CD City 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.) of 2 View transaction list Journal entry worksheet nt ences Record purchase of CDs on account from Music Supply for $2,150, terms 2/10, n/30. Note: Enter debits before credits Date General Journal Debit Credit July 18 Record entry Clear entry View general Journal Required: 1. Assuming that CD City 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.) 2. View transaction list Journal entry worksheet ok 4 5 6 7 8 9 BB 12 ences Sell CDs to customers for cash, $3,250, that had a cost of $1,550. Record the sale of inventory for cash. Note: Enter debits before credits Date General Journal Debit Credit July 22 Record entry Clear entry View general Journal Required: 1. Assuming that CD City 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.) View transaction list Journal entry worksheet 1 6 7 5 8 9 10 12 Sell CDs to customers for cash, $3,250, that had a cost of $1,550. Record the cost of inventory sold. Note: Enter debits before credits Date July 22 General Journal Debit Credit Record entry Clear entry View general Journal Required: 1. Assuming that CD City 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.) View transaction list Journal entry worksheet
