There is no Accounts Receivable for C and E.

During its first year of operations, Tron Auto Dealership (TAD) bought vehicles from a manufacturer on account at a cost of $627,000. TAD returned $171,000 of these vehicles to the manufacturer for credit on its account. TAD then sold $399,000 of the remaining vehicles at a cash selling price of $704,000. TAD's customers rarely return vehicles, so TAD records sales returns only as they occur. One customer did return a vehicle to TAD, which had been sold to the customer for $156,000. The vehicle was in perfect condition, so it was put back into TAD's inventory at TAD's cost of $95,000. Prepare journal entries to record these transactions, assuming TAD uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) X Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 627,000 Inventory Accounts Payable 627,000 B 2 171,000 Accounts Payable Inventory 171,000 C 3 Interest Receivable 704,000 Sales Revenue 704,000 D 4 Cost of Goods Sold 399,000 Inventory 399,000 E 5 Sales Revenue 156,000 Accounts Payable 156,000 F 6 Inventory 95,000 Cost of Goods Sold 95,000