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GameGirl, Incorporated, has the following transactions during August. August 6 Sold 88 handheld game devices for $290 each to DS unlimited on account, terms 1/10, net 60. The cost of the 88 game devices sold was $270 each. August 10 DS Unlimited returned eight game devices purchased on August 6 since they were defective. August 14 Received full amount due from DS Unlimited. Requlred: Prepare the transactions for GameGirl, Incorporated, assuming the company uses a perpetual inventory system. The items returned on August 10 were considered worthless to GameGirl and were discarded. (If no entry Is required for a transaction/event, select "No Journal Entry Requlred" In the first account fleld.)

GameGirl, Incorporated, has the following transactions during August. August 6 Sold 88 handheld game devices for $290 each to DS unlimited on account, terms 1/10, net 60. The cost of the 88 game devices sold was $270 each. August 10 DS Unlimited returned eight game devices purchased on August 6 since they were defective. August 14 Received full amount due from DS Unlimited. Requlred: Prepare the transactions for GameGirl, Incorporated, assuming the company uses a perpetual inventory system. The items returned on August 10 were considered worthless to GameGirl and were discarded. (If no entry Is required for a transaction/event, select "No Journal Entry Requlred" In the first account fleld.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please read and answer journal entry question using table.

GameGirl, Incorporated, has the following transactions during August. August 6 sold 88 handheld game devices for $290 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 88 game devices sold was $270 each. August 10 DS Unlimited returned eight game devices purchased on August 6 since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Incorporated, assuming the company uses a perpetual inventory system. The items returned on August 10 were considered worthless to GameGirl and were discarded. (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
Transcribed Image Text:GameGirl, Incorporated, has the following transactions during August. August 6 sold 88 handheld game devices for $290 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 88 game devices sold was $270 each. August 10 DS Unlimited returned eight game devices purchased on August 6 since they were defective. August 14 Received full amount due from DS Unlimited. Required: Prepare the transactions for GameGirl, Incorporated, assuming the company uses a perpetual inventory system. The items returned on August 10 were considered worthless to GameGirl and were discarded. (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 Sold 88 handheld game devices for $290 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 88 game devices sold was $270 each. Record the sale of ount, ach. inventory on account. 2 Sold 88 handheld game devices for $290 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 88 game devices sold was $270 each. Record the cost of inventory sold. Credit Record DS Unlimited returning eight game devices purchased on August 6 since they were defective. 3 4 Record receipt of full amount due from DS Unlimited. Note : = journal entry has been entered Record entry Clear entry View general journal
Transcribed Image Text:> 1 Sold 88 handheld game devices for $290 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 88 game devices sold was $270 each. Record the sale of ount, ach. inventory on account. 2 Sold 88 handheld game devices for $290 each to DS Unlimited on account, terms 1/10, net 60. The cost of the 88 game devices sold was $270 each. Record the cost of inventory sold. Credit Record DS Unlimited returning eight game devices purchased on August 6 since they were defective. 3 4 Record receipt of full amount due from DS Unlimited. Note : = journal entry has been entered Record entry Clear entry View general journal
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