Question

GameGiri, Incorporated, has the following transactions during August. August 6 sold 64 handheld game devices for $170 each to 0S unlimited on account, termis 1/10, net 60 . The cost of the 64 game devices sold was $150 each. August 1005 Unlimited returned four game devices purchased on August 6 since they were defective. August 14 Received full amount due from DS unlinited. Required: Prepare the transactions for GameGirl, Incorporated, assuming the company uses a perpetual inventory system. The items returne August 10 were considered worthless to GameGirl and were discarded.

Answer 1

The subject of this question is Business, and the grade level is High School. The transactions for GameGiri, Incorporated can be summarized as follows: sold 64 handheld game devices, received a return of defective devices, and received full payment from a customer. These transactions are recorded in a perpetual inventory system.

Step-by-step explanation:

The subject of this question is Business and the grade level is High School.

Based on the provided information, the transactions for GameGiri, Incorporated can be summarized as follows:

1. August 6: Sold 64 handheld game devices to 0S Unlimited on account for $170 each. The cost of the devices sold was $150 each.
2. August 10: 0S Unlimited returned four defective game devices that were considered worthless and were discarded.
3. August 14: Received full payment from DS Unlimited.

These transactions are recorded in a perpetual inventory system, which continually updates inventory and cost of goods sold.