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On June 5, Staley Electronics purchases 220 units of inventory on account for $22 each....

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Accounting

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On June 5, Staley Electronics purchases 220 units of inventory on account for $22 each. After closer examination. Staly determines 20 units are defective and returns them to its supplier for full credit on June 9 . All remaining inventory is sold on account on June 16 for $39 each. Required: Record transactions for (a) the purchase of inventory on account, (b) the return of defective inventory, and (c) the sale of inventory on account using a perpetual system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first occount field.) Journal entry worksheet Record the purchase of inventory on account. Note: Enter debits before credits. Journal entry worksheet Record the return of inventory purchased. Note: Enter debits before credits. Journal entry worksheet Record the sale of inventory on account. - Note: Enter debits before credits. Journal entry worksheet 1 Record the cost of inventory sold. Note: Enter debits before credits

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