Charlie Company Uses a Perpetual Inventory System

question 150

Essay

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.
May 23 Received payment in full from Scruffy Brothers. Round to nearest dollar.
Instructions
Journalize the May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual inventory system. You may omit explanations. Round amounts to nearest dollar.

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Definitions:

Mouse

A handheld input device used to control a cursor in a graphical user interface for interacting with text, icons, files, and folders on a computer.

Desktop Computer

A personal computer designed for regular use at a single location on a desk or table due to its size and power requirements.

Workspace

An area or virtual interface where individuals perform their tasks, often equipped with tools and resources necessary for their work.

All-In-One

A category of products or devices that combine multiple functionalities or components into a single unit, often used for printers or computers.