Please dont provide solution image based thnx Problem 6-9B Record transactions and prepare a partial incomestatement using a periodic inventory system (LO6-8)[The following information applies to the questions displayed below.]At the beginning of June, Circuit Country has a balance in inventory of $2,350.The following transactions occur during the month of June.June 2 Purchase radios on account from Radio World for $2,050, termsfor freight charges related to the June 2 purchase fromJune 4 Radio World, $278.2/15, n/45.Pay cashJune 8 Return defective radios to Radio World and receive credit, $400.June 10 Pay Radio World in full.June 11 Sell radios to customers on account, $3,708, that had a cost of$2,550.June 18 Receive payment on account from customers, $2,700.June 20June 23 $2,950.Purchase radios on account from Sound Unlimited for $3,150, terms2/10, n/30.Sell radios to customers for cash, $4,650, that had a cost ofJune 26 Return damaged radios to Sound Unlimited and receive credit of$500.June 28 Pay Sound Unlimited in full.Problem 6-98 Part 22.Record the month-end adjustment to inventory, assuming that a final count reveals endinginventory with a cost of $1,334. (If no entry is required for a transaction/event, select "No JournalEntry Required" in the first account field.)View transaction listJournal entry worksheet<1Record period-end adjustment.Note: Enter debits before credits.DateJune 30< PrevGeneral Journal-0015 16mDebitCreditRequired informationProblem 6-9B Record transactions and prepare a partial incomestatement using a periodic inventory system (LO6-8)[The following information applies to the questions displayed below]At the beginning of June, Circuit Country has a balance in inventory of $2,350.The following transactions occur during the month of June.Purchase radios on account from Radio World for $2,050, termsJune 2 2/15, n/45.June 4 Pay cash for freight charges related to the June 2 purchase fromRadio World, $270.June 8 Return defective radios to Radio World and receive credit, $400.June 10 Pay Radio World in full.Sell radios to customers on account, $3,700, that had a cost ofJune 11 $2,550.June 18 Receive payment on account from customers, $2,700.June 20Purchase radios on account from Sound Unlimited for $3,150, terms2/10, n/30.June 23 Sell radios to customers for cash, $4,658, that had a cost of$2,950.June 26 Return damaged radios to Sound Unlimited and receive credit of$500.June 28 Pay Sound Unlimited in full.Problem 6-9B Part 33. Prepare the top section of the multiple-step income statement through gross profit for the monthof June.CIRCUIT COUNTRYMultiple-step Income Statement (partial)For the month of JuneCost of goods sold:Beginning inventoryCost of goods available for saleCost of goods sold

Under the periodic inventory system, the firm does not keep a continuous record of the inventory on…

At the beginning of June, Circuit Country has a balance in inventory of $2,350. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $2,050, terms 2/15, n/45. June 4 Radio World, $278. Pay cash for freight charges related to the June 2 purchase from June 8 Return defective radios to Radio World and receive credit, $400. June 10 Pay Radio World in full. Sell radios to customers on account, $3,708, that had a cost of June 11 $2,550. June 18 Receive payment on account from customers, $2,700. Purchase radios on account from Sound Unlimited for $3,150, terms June 20 2/10, n/30. Sell radios to customers for cash, $4,650, that had a cost of June 23 $2,950. Return damaged radios to Sound Unlimited and receive credit of $500. June 26 June 28 Pay Sound Unlimited in full.

At the beginning of June, Circuit Country has a balance in inventory of $2,350. The following transactions occur during the month of June. June 2 Purchase radios on account from Radio World for $2,050, terms 2/15, n/45. June 4 Radio World, $278. Pay cash for freight charges related to the June 2 purchase from June 8 Return defective radios to Radio World and receive credit, $400. June 10 Pay Radio World in full. Sell radios to customers on account, $3,708, that had a cost of June 11 $2,550. June 18 Receive payment on account from customers, $2,700. Purchase radios on account from Sound Unlimited for $3,150, terms June 20 2/10, n/30. Sell radios to customers for cash, $4,650, that had a cost of June 23 $2,950. Return damaged radios to Sound Unlimited and receive credit of $500. June 26 June 28 Pay Sound Unlimited in full.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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