Journalize the following entries for audio tech during the month of Aug. Assume a perpetual inventory

system.

Aug 1  Purchased 10 dvd players from abc for $25 each, terms 2/10, n30

Aug 4  Sold 6 dvd players on credit for $40 each, terms 1/10, n30

Aug 7  two dvd players sold on aug 4 were returned by customers because they didn’t work properly

Aug 9 Returned the two malfunctioning dvd players to ABC for credit

Aug 11 Paid the amount due to ABC for the DVD players on Aug 1

Aug 14 Received the amount due from the customers who purchased dvd players on Aug 4

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