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Assume that on August, Thrifty had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During August, these transactions
Assume that on August, Thrifty had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During August, these transactions occurred. - Aug. 5 Purchased calculators from Borders at a total cost of $1,650, terms n/30. - Aug 7 Paid freight of $90 on calculators purchased from Borders. - Aug 10 Returned calculators to Borders for $65 credit because they did not meet specifications. - Aug 11 Sold calculators costing $820 for $1,190 to Stong's Book Store, terms n/30. - Aug 13 Granted credit of \$95 to Stong's Book Store for the return of one calculator that was not ordered. The calculator cost $60. - Aug 20 Sold calculators costing $670 for $840 to Kinds Card Shop, terms 1/10 and n/30. - Aug 22 Kinds Card Shop paid amount due in full Instructions Journalize the August transactions
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