question archive The following information applies to the questions displayed below
The following information applies to the questions displayed below
Subject:AccountingPrice: Bought3
The following information applies to the questions displayed below.] At the beginning of June, Circuit Country has a balance in Inventory of $2,400. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $2,100, terms 1/15, n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, $280. June B Return defective radios to Radio World and receive credit, $200. June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $3,800, that had a cost of $2,600. June 18 Receive payment on account from customers, $2,800. June 20 Purchase radios on account from Sound Unlimited for $3,200, terms 3/10, n/30. June 23 Sell radios to customers for cash, $4,700, that had a cost of $3,000. June 26 Return damaged radios to Sound Unlimited and receive credit of $400. June 28 Pay Sound Unlimited in full. Required: 1. Assuming that Circult Country uses a perpetual Inventory system, record the transactions. (If no entry is required for a Eransaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 6 5 7 8 12 4 1 3 2 H... Record purchase of radios on account from Radio World for $2,100, terms 1/15, 1/45 Note: Enter debits before credits Debit Credit General Journal Dato June 02 Required Information The following information applies to the questions displayed below.) At the beginning of June, Circuit Country has a balance in Inventory of $2,400. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $2,100, terms 1/15, n/45. June 4 Pay cash for freight charges related to the June 2 purchase from Radio World, $280. June 8 Return defective radios to Radio World and receive credit, $200. June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $3,800, that had a cost of $2,600. June 18 Receive payment on account from customers, $2,800. June 20 Purchase radios on account from Sound Unlimited for $3,200, terms 3/10, n/30. June 23 Sell radios to customers for cash, $4,700, that had a cost of $3,000. June 26 Return damaged radios to Sound Unlimited and receive credit of $400. June 28 Pay Sound Unlimited in full. 2. Prepare the top section of the multiple-step Income statement through gross profit for the month of June. CIRCUIT COUNTRY Multiple-step Income Statement (partial) For the month of Juno
