1. Assuming that CD City uses a perpetual
inventory system, record the transactions. (If no entry is
required for a transaction/event, select "No journal entry
required" in the first account field.)
Journal entry worksheet
At the beginning of July, CD City has a balance in inventory of
$3,150. The following transactions occur during the month of
July.
.....
Purchase CDs on account from Wholesale Music for $2,050, terms
2/10, n/30.
Note: Enter debits before credits.
Date
General
Journal
Debit...