2.

Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred.

Sept.	6		Purchased calculators from Pharoah Co. at a total cost of $1,485, on account, terms n/30.
	9		Paid freight of $45 on calculators purchased from Pharoah Co.
	10		Returned calculators to Pharoah Co. for $58 credit because they did not meet specifications.
	12		Sold calculators costing $466 for $622 to Sheridan Book Store, on account, terms n/30.
	14		Granted credit of $41 to Sheridan Book Store for the return of one calculator that was not ordered. The calculator cost $32.
	20		Sold calculators costing $511 for $683 to Sunland Card Shop, on account, terms n/30.

Prepare a tabular summary to record the transactions for the month of September for Office Depot using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

				Assets					=	Liabilities	+	Stockholders' Equity
														Retained Earnings
Date				Cash	+	Accounts Receivable	+	Inventory	=	Accounts Payable	+	Common Stock	+	Rev.	-	Exp.	-	Div.
Sep.		6		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount		select an account title Sales returns & allowancesSales revenueAccounts receivableCost of goods soldBad debt expense
		9		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an account title Sales returns & allowancesBad debt expenseCost of goods soldSales revenueAccounts receivable
		10		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an account title Bad debt expenseCost of goods soldSales returns & allowancesSales revenueAccounts receivable
		12		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an account title Accounts receivableSales returns & allowancesBad debt expenseCost of goods soldSales revenue
				enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an account title Sales returns & allowancesAccounts receivableBad debt expenseCost of goods soldSales revenue
		14		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an account title Bad debt expenseAccounts receivableSales returns & allowancesCost of goods soldSales revenue
				enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an account title Sales revenueAccounts receivableBad debt expenseSales returns & allowancesCost of goods sold
		20		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		enter a dollar amount		select an account title Accounts receivableBad debt expenseCost of goods soldSales revenueSales returns & allowances
				enter a dollar amount		enter a dollar amount		enter a dollar amount