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Recording Purchases (15 points) Charlie Company uses a perpetual inventory system. During May, the following...

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Recording Purchases (15 points) Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May 13 Sold 8 motors at a cost of $45 each to Scruffy Brothers Supply Company, terms 4/10,n/30. The motors cost Charlie $26 each. May 16 One defective motor was returned to Charlie, which was repaired and put back into inventory. May 23 Received payment in full from Scruffy Brothers. Round to nearest dollar. Instructions Journalize the May transactions for Charlie Company (the seller) assuming that Charlie uses a perpetual inventory system. Round amounts to nearest dollar

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