Answer:
Jul-05 Dr	Inventory	$118,800 
 Cr Accounts Payable $118,800
Jul-08 Dr	Accounts Payable	$5,400
Cr Inventory $ 5,400
Jul-13 Dr Accounts Payable	$ 113,400 
 Cr Cash $108,864
 Cr Inventory $4,536
Jul-28 Dr Accounts receivables	$ 134,400	
Cr Sales revenue $ 134,400
Jul-28	Dr Cost of Goods Sold	$108,864 
Cr Inventory $108,864 
Explanation:
Preparation of the journal entry to Record the transactions of Sundance systems, assuming the company uses a perpetual inventory system
Jul-05 Dr	Inventory	$118,800 
 Cr Accounts Payable $118,800 
(44 LCDs x $2700)
(Being to record inventory purchased on account) 
Jul-08 Dr	Accounts Payable	$5,400
Cr Inventory $ 5,400 
(2 LCDs x $2700)
(Being to record inventory returned that were defective) 
Jul-13 Dr Accounts Payable	$ 113,400 
 (42 LCDs x $ 2700)
Cr Cash $108,864
 ($ 113,400-$4,536)
 Cr Inventory $ 4,536
 (42 LCDS x $ 2700 x 4%)
(Being to record Amount paid within discount term of 10 days) 
Jul-28 Dr Accounts receivables	$ 134,400	
[42 LCDs x $ 3200]
Cr Sales revenue $ 134,400
(Being to record Inventory sold) 
Jul-28	Dr Cost of Goods Sold	$108,864 
(42 LCDS x $ 2700 x 96%)
Cr Inventory $108,864	
(Being to record Cost of inventory sold adjusted)