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11) Reid Supply sells backpacks and other school supplies. The company uses a perpetual inventory system. During September, the following transactions and events occurred: Sept.
11) Reid Supply sells backpacks and other school supplies. The company uses a perpetual inventory system. During September, the following transactions and events occurred: Sept. 4 Sold 70 backpacks at $30 each to Hunter Company, terms 2/10, n/30, F.O.B. Shipping Point. Sept. 6 Gave credit of $150 for the return of 5 backpacks purchased on Sept. 4 that were defective. Sept. 14 Received a check as payment in full from Hunter Company.
Instructions: Please write the journal entries for the September transactions for Reid Supply.
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