Sundance Systems has the following transactions during July. 5 Purchases 54 LCD televisions on account from Red River Supplies for $3,200 each, terms 2/10, n/30. 8 Returns to Red River six televisions that had defective sound. July July July 13 Pays the full amount due to Red River. July 28 Sells remaining 48 televisions from July 5 for $3,700 each on account. Required: Record the transactions of Sundance Systems, assuming the company uses a perpetual inventory system. (If transaction/event, select "No Journal Entry Required" in the first account field.) no entry is required for a View transaction list Journal entry worksheet > 2 3 1 4 5 Record purchase of 54 LCD televisions on account from Red River Supplies for $3,200 each, terms 2/10, n/30 Note: Enter debits before credits. Debit Date General Journal Credit July 05 Clear entry Record entry View general journal
Sundance Systems has the following transactions during July. 5 Purchases 54 LCD televisions on account from Red River Supplies for $3,200 each, terms 2/10, n/30. 8 Returns to Red River six televisions that had defective sound. July July July 13 Pays the full amount due to Red River. July 28 Sells remaining 48 televisions from July 5 for $3,700 each on account. Required: Record the transactions of Sundance Systems, assuming the company uses a perpetual inventory system. (If transaction/event, select "No Journal Entry Required" in the first account field.) no entry is required for a View transaction list Journal entry worksheet > 2 3 1 4 5 Record purchase of 54 LCD televisions on account from Red River Supplies for $3,200 each, terms 2/10, n/30 Note: Enter debits before credits. Debit Date General Journal Credit July 05 Clear entry Record entry View general journal
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Sundance Systems has the following transactions during July.
5 Purchases 54 LCD televisions on account from Red River Supplies for $3,200 each, terms 2/10, n/30.
8 Returns to Red River six televisions that had defective sound.
July
July
July 13 Pays the full amount due to Red River.
July 28 Sells remaining 48 televisions from July 5 for $3,700 each on account.
Required:
Record the transactions of Sundance Systems, assuming the company uses a perpetual inventory system. (If
transaction/event, select "No Journal Entry Required" in the first account field.)
no entry is required for a
View transaction list
Journal entry worksheet
>
2
3
1
4
5
Record purchase of 54 LCD televisions on account from Red River Supplies for
$3,200 each, terms 2/10, n/30
Note: Enter debits before credits.
Debit
Date
General Journal
Credit
July 05
Clear entry
Record entry
View general journal
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