Question
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,
Assume that on September 1,Office Depothad an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred.
Sept. 6 Purchased calculators fromCullumberCo. at a total cost of $1,780, terms n/30.
9 Paid freight of $50on calculators purchased fromCullumberCo.
10Returned calculators toCullumberCo. for $57credit because they did not meet specifications.
12Sold calculators costing $570for $750to Fryer Book Store, terms n/30.
14Granted credit of $40to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $27.
20Sold calculators costing $550for $750to Heasley Card Shop, terms n/30.
Journalize the September transactions.(If no entry is required, select "No Entry" for the account titles and enter 0 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.)
sept. 6
sept. 9
sept. 10
sept. 12
sept. 12
sept. 14
sept. 14
sept. 20
sept. 20
CraneWarehouse distributes hardback books to retail stores and extends credit terms of2/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred.
June 1 Purchased books on account for $1,280(including freight) from Catlin Publishers, terms2/10, n/30.
3 Sold books on account to Garfunkel Bookstore for $1,400. The cost of the merchandise sold was $800.
6 Received $80credit for books returned to Catlin Publishers.
9 Paid Catlin Publishers in full.15Received payment in full from Garfunkel Bookstore.
17 Sold books on account to Bell Tower for $1,100, terms of2/10, n/30. The cost of the merchandise sold was $950.
20 Purchased books on account for $800from Priceless Book Publishers, terms1/15, n/30.
24 Received payment in full, less discount from Bell Tower.
26 Paid Priceless Book Publishers in full.28Sold books on account to General Bookstore for $1,550. The cost of the merchandise sold was $800. 30 Granted General Bookstore $200credit for books returned costing $70.
Journalize the transactions for the month of June forCraneWarehouse, using a perpetual inventory system.(If no entry is required, select "No Entry" for the account titles and enter 0 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.)
June 1
June 3
June 3
June 6
June 9
June 15
June 17
June 17
June 20
June 24
June 26
June 28
June 28
June 30
June 30
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