
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
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

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
Expert Solution
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