Question

can anyone help me with these qustions

Required information The following information applies to the questions displayed below) At the beginning of July CD City has a balance in invertory of $2.500. The following transactions occur during the month of July Foly Purchase be seen from Molesale Music for $1.500, tome 1/10, /30 July 4 Pay as for freight charges related to the July ) purchase from Wholesale musie, 3110. July 9 Return Incorrectly ordered ce to Wholesale Music and receive credit, $200. July 11 Pay Wholesale Musie in full. July 12 Sell ce to customers account, $4,200, that had a cost of $2.200 July 15 Receive fu pet recute related to the sale on July 12. July 18 Purchase CDs on account from Musie Supply for $2.300. te 1/10, 1/30 July 22 fell be to customer for ca $3,400, that had a cost of $1.700. July 28 Return Coto Musie Supply and receive credit of $140. July 0 Pay Huse Supply fall Record purchase of CDs on account from Wholesale Music for $1,500, terms 1/10, n/30 Record payment of cash for freight charges related to the July 3 purchase from Wholesale Music, $110. Record return of incorrectly ordered CDs to Wholesale Music and receive credit, $200. Record payment to Wholesale Music in full. Sell CDs to customers on account, $4,200, that had a cost of $2,200. Record the sale of inventory on account. Sell CDs to customers on account, $4,200, that had a cost of $2,200. Record the cost of inventory sold. Record receipt of full payment from customers related to the sale on July 12. Record purchase of CDs on account from Music Supply for $2,300, terms 1/10, n/30. Sell CDs to customers for cash, $3,400, that had a cost of $1,700. Record the sale of inventory for cash. Sell CDs to customers for cash, $3,400, that had a cost of $1,700. Record the cost of inventory sold. 1 .... 5 6 7 8 9 10 Record return of CDs to Music Supply and receive credit of $140. Record payment of Music Supply in full. Note: Enter debits before credits Date General Journal

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Answer 1

Answer: Credit Date July 3 Debit 1,500 1,500 July 4 110 July 9 200 July 11 1,300 General Journal Inventory Accounts Payable (To record Inventory purchased on account) Inventory Cash (To record Freight paid) Accounts Payable Inventory (To record Goods returned) Accounts Payable ($1,500 - $200) Inventory [($1,500 - $200) * 1%] Cash [($1,500 - $200) * 99%] (To record amount paid in full within discount period) Accounts Receivable Sales Revenue (To record sale made on account) Cost of Goods Sold Inventory (To record Cost of Goods sold) Cash Accounts Receivable (To record cash received on account) 1,287 July 12 4,200 4,200 July 12 2,200 2,200 July 15 4,200 4,200

July 18 2,300 2,300 July 22 3,400 3,400 July 22 1,700 Inventory Accounts Payable (To record Inventory purchased on account) Cash Sales Revenue (To record sale made in cash) Cost of Goods Sold Inventory (To record Cost of Goods sold) Accounts Payable Inventory (To record goods returned) Accounts Payable ($1,700 - $140) Cash (To record amount paid in full) 1,700 July 28 140 July 30 1,560 1,560