During its first year of operations, Tron Auto Dealership (TAD) bought vehicles from a manufacturer on account at a cost of $612,000. TAD returned $156,000 of these vehicles to the manufacturer for cr

During its first year of operations, Tron Auto Dealership (TAD) bought vehicles from a manufacturer on account at a cost of $612,000. TAD returned 6,000 of these vehicles to the manufacturer for credit on its account. TAD then sold $384,000 of the remaining vehicles at a cash selling price of $689,000. 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 $141,000. The vehicle was in perfect condition, so it was put back into TAD’s inventory at TAD’s cost of $80,000. 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.) View transaction list Journal entry worksheet A B C D E F Record the purchase of vehicles from a manufacturer on account for $612,000. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal