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DS Unlimited has the following transactions during August. August 6 Purchases 66 handheld game devices on account from GameGirl, Inc., for $180 each, terms 2/10, n/60. August 7 Pays $380 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 46 game devices purchased on August 6 for $200 each to customers on account. The total cost of the 46 game devices sold is $8,406.00.

Respuesta :

TomShelby

Answer:

Inventory    11,880 debit

         A/P                          11,880 credit

--to record purchase from GameGirl --

Inventory        360 debit

        Cash                           360 credit

--to record the freigh-in--

A/P                 1,080 debit

     Inventory                  1,080 credit

--to record returned goods to GameGirl--

A/P                    10,800 debit

       Inventory                      216 credit

       Cash                         10,584 credit

--to record payment to GameGirl--

accounts receivables    9,200 debit

              sales revenues          9,200 credit

COGS               8,406 debit

                                        8,406 credit

--to record sale and subsequent cost of the sale--

Explanation:

total amount of hte purchase in dollars:

66 game devices x 180 dollars each = 11,880

six returned devices:

6 x 180 = 1,080

invoice balance: 11,880 - 1,080 = 10,800

discount because payment within the first ten days:

10,800 x 2% = 216

final value: 10,800 - 216 = 10,584

sale of 46 devices at 200 = 9,200

anthougo

Journalizing the transactions under the perpetual inventory system for DS Unlimited is as follows:

Journal Entries:

August 6 Debit Inventory $11,880

Credit Accounts Payable (GameGirl, Inc.) $11,880

  • To record the purchase of 66 handheld game devices on account from GameGirl, Inc., for $180 each, terms 2/10, n/60.

August 7 Debit Freight-in Expense $380

Credit Cash $380

  • To record freight charges associated with the August 6 purchase.

August 10 Debit Accounts Payable (GameGirl, Inc.) $1,080

Credit Inventory $1,080

  • To record the return of six game devices that were defective.

August 14 Debit Accounts Payable (GameGirl, Inc.) $10,800

Credit Cash $10,800

August 23 Debit Accounts Receivable $9,200

Credit Sales Revenue $9,200

  • To record the Sale of 46 game devices purchased on August 6 for $200 each to customers on account.

Debit Cost of goods sold $8,406

Credit Inventory $8,406

Data Analysis:

August 6 Inventory $11,880 Accounts Payable (GameGirl, Inc.) $11,880

To record the purchase of 66 handheld game devices on account from GameGirl, Inc., for $180 each, terms 2/10, n/60.

August 7 Freight-in Expense $380 Cash $380

To record freight charges associated with the August 6 purchase.

August 10 Accounts Payable (GameGirl, Inc.) $1,080 Inventory $1,080

To record the return of six game devices that were defective.

August 14 Accounts Payable (GameGirl, Inc.) $10,800 Cash $10,800

August 23 Accounts Receivable $9,200 Sales Revenue $9,200

To record the Sale of 46 game devices purchased on August 6 for $200 each to customers on account.

Cost of goods sold $8,406 Inventory $8,406

Question Completion:

Journalize the transactions using the perpetual inventory system.

Learn more about journalizing business transactions at https://brainly.com/question/17201601

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