Sundance Systems has the following transactions during July. July 5 Purchases 30 LCD televisions on...
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Sundance Systems has the following transactions during July. July 5 Purchases 30 LCD televisions on account from Red River Supplies for $2,000 each, terms 2/10, n/30. July 8 Returns to Red River six televisions that had defective sound. July 13 Pays the full amount due to Red River. July 28 Sells remaining 24 televisions from July 5 for $2,500 each on account. Required: Record the transactions of Sundance Systems, assuming the company uses a perpetual inventory system.
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