Business
Business, 31.10.2019 04:31, kayleahrayne

During its first year of operations, tron auto dealership (tad) bought vehicles from a manufacturer on account at a cost of $625,000. tad returned $169,000 of these vehicles to the manufacturer for credit on its account. tad then sold $397,000 of the remaining vehicles at a selling price of $702,000. tad’s customers rarely return vehicles, so tad records sales returns only as they occur. one customer did return a vehicle to tad, which had been sold to the customer for $154,000. the vehicle was in perfect condition, so it was put back into tad’s inventory at tad’s cost of $93,000.prepare journal entries to record these transactions, assuming tad uses a perpetual inventory system. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)

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