At the beginning of June, Chow Company has a balance in the inventory of $2,100. The following transactions occur during the month of June.

June 2 Purchase radios on account from Air One for $2,400, terms 3/15, n/45.
June 4 Pay freight charges related to the June 2 purchase from Air One, $400.
June 8 Return defective radios to Air One and receive credit, $600.
June 10 Pay Air One in full. June 11 Sell radios to customers on account, $5,000, that had a cost of $3,300.
June 18 Receive payment on account from customers, $3,100.
June 20 Purchase radios on account from Motion Unlimited for $3,300, terms 3/10, n/30.
June 23 Sell radios to customers for cash, $4,800, that had a cost of $3,200.
June 26 Return damaged radios to Motion Unlimited and receive credit of $300.
June 28 Pay Motion Unlimited in full.

Required:
1. Assuming that Chow Company uses a perpetual inventory system, record the transactions.
2. Prepare the top section of the multiple-step income statement through gross profit for the month of June.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.