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Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During
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 Wildhorse Co. at a total cost of $1,680, terms n/30. 9 Paid freight of $60 on calculators purchased from Wildhorse Co. 10 12 14 20 Returned calculators to Wildhorse Co. for $65 credit because they did not meet specifications. Sold calculators costing $520 for $670 to Fryer Book Store, terms n/30. Granted credit of $35 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $22 Sold calculators costing $540 for $760 to Heasley Card Shop, terms n/30. Journalize the September transactions. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
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