7. Wizard Electronics and Supply has the following transactions in July related to the purchase...
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7. Wizard Electronics and Supply has the following transactions in July related to the purchase of merchandise inventory. (Click the icon to view the transactions.) Journalize the purchase transactions for Wizard Electronics and Supply assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Jul. 1: Purchase of $26,000 worth of computers on account, term of 2/10, n/30, from Birch Computers L More Info Date Accounts and Explanation Debit Credit Jul. 1 July 1 July 3 Purchase of $26,000 worth of computers on account, term of 2/10, n/30, from Birch Computers. Return of $5,000 of the computers to Birch Computers. Payment made on account to Birch Computers. July 9 Print Done
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