DS Unlimited has the following transactions during August. August 6 Purchases 56 handheld game devices on account from GameGirl, Incorporated, for $130 each, terms August 7 Pays $330 to Sure Shipping for freight charges associated with the August 6 purchase. August 10 Returns to GameGirl six game devices that were defective. August 14 Pays the full amount due to GameGirl. August 23 Sells 36 game devices purchased on August 6 for $150 each to customers on account. The total cos game devices sold is $4,871.00. Required: Record the transactions of DS Unlimited accuse

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 8EA: Record the journal entry for each of the following transactions. Glow Industries purchases 750...
Question

ssssssssssss

DS Unlimited has the following transactions during August.
August 6 Purchases 56 handheld game devices on account from GameGirl, Incorporated, for $130 each, terms 1/10, n/60.
August 7 Pays $330 to Sure Shipping for freight charges associated with the August 6 purchase.
August 10 Returns to GameGirl six game devices that were defective.
August 14 Pays the full amount due to GameGirl.
August 23 Sells 36 game devices purchased on August 6 for $150 each to customers on account. The total cost of the 36
game devices sold is $4,871.00.
Required:
Record the transactions of DS Unlimited, 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. Round your answers to 2 decimal places.)
Transcribed Image Text:DS Unlimited has the following transactions during August. August 6 Purchases 56 handheld game devices on account from GameGirl, Incorporated, for $130 each, terms 1/10, n/60. August 7 Pays $330 to Sure Shipping for freight charges associated with the August 6 purchase. August 10 Returns to GameGirl six game devices that were defective. August 14 Pays the full amount due to GameGirl. August 23 Sells 36 game devices purchased on August 6 for $150 each to customers on account. The total cost of the 36 game devices sold is $4,871.00. Required: Record the transactions of DS Unlimited, 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. Round your answers to 2 decimal places.)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Accounting Changes and Error Analysis
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College