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Sundance Systems has the following transactions during July July 5 Purchases 24 LCD televisions on account from Red River Supplies for $1,700 each, terms 1/10,
Sundance Systems has the following transactions during July July 5 Purchases 24 LCD televisions on account from Red River Supplies for $1,700 each, terms 1/10, n/30 July 8 Returns to Red River two televisions that had defective sound July 13 Pays the full amount due to Red River July 28 Sells remaining 22 televisions from July 5 for $2,200 each on account. Required: Record the transactions of Sundance Systems, 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 Journal entry worksheet 2 4 Purchases 24 LCD televisions on account from Red River Supplies for $1,700 each, terms 1/10, n/30 Note: Enter debits before credits Date General Journal Debit Credit July 05 Inventory 40,800 Accounts payable 40,800
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