Problem 6-3B Record transactions and prepare a partial income statement usim system (LO6-2, 6-5) (The following information applies to the questions displayed below.) At the beginning of June, Circuit Country has a balance in inventory of $2,550. The following month of June. June 2 Purchase radios on account from Radio World for $2,25o, terms 2/15, n/45. 4 Pay cash tor freight eharges related to the June 2 purchase from Radio Wor 8 Return defective radios to Radio World and receive credit, $400. June June June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $4,100, that had a cost of $2,750. June 18 Receeive payment on account from customers, $3,100. June 20 Purchase radios on account from Sound Unlimited for $3,350, terms 2/10, n/ June 23 Sell radios to customers for cash, $4,850, that had a cost of $3,150. June 26 Return damaged radios to Sound Unlimited and receive credit of $500. June 28 Pay Sound Unlimited in full.

Problem 6-3B Record transactions and prepare a partial income statement usim system (LO6-2, 6-5) (The following information applies to the questions displayed below.) At the beginning of June, Circuit Country has a balance in inventory of $2,550. The following month of June. June 2 Purchase radios on account from Radio World for $2,25o, terms 2/15, n/45. 4 Pay cash tor freight eharges related to the June 2 purchase from Radio Wor 8 Return defective radios to Radio World and receive credit, $400. June June June 10 Pay Radio World in full. June 11 Sell radios to customers on account, $4,100, that had a cost of $2,750. June 18 Receeive payment on account from customers, $3,100. June 20 Purchase radios on account from Sound Unlimited for $3,350, terms 2/10, n/ June 23 Sell radios to customers for cash, $4,850, that had a cost of $3,150. June 26 Return damaged radios to Sound Unlimited and receive credit of $500. June 28 Pay Sound Unlimited in full.

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Description: help!! Required informationProblem 6-3B Record transactions and prepare a partial income statement using a perpetual inventorysystem (LO6-2, 6-5)(The following information applies to the questions displayed below.)At the beginning of June, Circuit Co

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter6: Inventories

Section: Chapter Questions

Problem 2PB: LIFO perpetual inventory The beginning inventory for Dunne Co. and data on purchases and sales for a...

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