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. Requlred: 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 Requlred" In the first account fleld.)

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business…