Question: Refer to the transactions in E6-9.
Required: Prepare the transactions for GameGirl, Inc., assuming the company uses a perpetual inventory system. Assume the 50 game devices sold on August 6 to DS Unlimited had a cost to GameGirl of $80 each. The items returned on August 10 were considered worthless to GameGirl and were discarded.
E6-9: DS Unlimited has the following transactions during August.
August 6 Purchases 50 handheld game devices on account from GameGirl, Inc., for $100 each, terms 1/10, n/60.
August 7 Pays $300 to Sure Shipping for freight charges associated with the August 6 purchase.
August 10 Returns to GameGirl five game devices that were defective.
August 14 Pays the full amount due to GameGirl.
August 23 Sells 30 game devices purchased on August 6 for $120 each to customers on account. The total cost of the 30 game devices sold is $3,170.
Required: Record the transactions of DS Unlimited, assuming the company uses a perpetual inventory system.