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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 September,

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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 September, these transactions occurred. Sept. Purchased calculators from Sunland Co. at a total cost of $1,914, on account, terms n/30. 9 Paid freight of $58 on calculators purchased from Sunland Co. 10 Returned calculators to Sunland Co. for $71 credit because they did not meet specifications. 12 Sold calculators costing $596 for $804 to Carla Vista Book Store, on account, terms n/30. 14 Granted credit of $54 to Carla Vista Book Store for the return of one calculator that was not ordered. The calculator cost $45. 20 Sold calculators costing $654 for $878 to Sandhill 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).)Stockholders' Equity Retained Earnings Rev. Exp. Div. $ $ Cost of goods sold

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