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The Blue Note Records uses a perpetual inventory system and had the following transactions during...

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Accounting

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The Blue Note Records uses a perpetual inventory system and had the following transactions during the Month of July 1 Made credit sales of S1,475, the cost of inventory sold was $785. 4 Putehased $1.500 worth of inventory paymg $1.000 with cash 2 Sold equipment tiut cost $1.000 for $2.300 The equipment was fully deprecinted and had no salvage value Paid ware of $1.250 and Salates of $2.250. Neither the wages or the salaries had been previously accrued in Long Hom's records 10 12 Made cash sales of $4.450 and credit sales of $3,250. The cost of the inventory sold was $4.050. 18 Purchased new equipment of 53,780 paying 91.780 in cash and signing a 90 day note for the Imuninei 24 Mads cash sales of $1235: cost of inventory sold $650 Paid wages of $1,470 and sale of 53.250. Neither had been previously accred 29 Paid the remainder of the July 1 inventory Required: Plecard the preceding tractions in general journal

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