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July 3 Purchase CDs on account from Wholesale Music for $1,600,...

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Accounting

July 3 Purchase CDs on account from Wholesale Music for $1,600, terms 1/10, n/30.
July 4 Pay cash for freight charges related to the July 3 purchase from Wholesale Music, $120.
July 9 Return incorrectly ordered CDs to Wholesale Music and receive credit, $400.
July 11 Pay Wholesale Music in full.
July 12 Sell CDs to customers on account, $4,400, that had a cost of $2,300.
July 15 Receive full payment from customers related to the sale on July 12.
July 18 Purchase CDs on account from Music Supply for $2,400, terms 1/10, n/30.
July 22 Sell CDs to customers for cash, $3,500, that had a cost of $1,800.
July 28 Return CDs to Music Supply and receive credit of $160.
July 30 Pay Music Supply in full.

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Journal entry worksheet 1 3 5 6 7 8 12 Record payment to Wholesale Music in full. Note: Enter debits before credits. Date General Journal Debit Credit July 11 Accounts Payable Cash Inventory Record entry Clear entry View general journal

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