ConnecTech bought 400 computers in December 20X2 for $300 each. It paid $260 to have them delivered to its store. In January 20X3, ConnecTech sold 220 of the computers for $550 each. ConnecTech uses a perpetual inventory system. 

 Prepare the journal entry(ies) to record ConnecTech’s purchase of the computers.

 

 Determine the balance in ConnecTech’s ending inventory on December 31, 20X2. 

 

. Prepare the journal entry(ies) to record the sale of the computers.

 

 Determine the balance in ConnecTech’s ending inventory on January 31, 20X3.