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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,
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 9 10 12 14 20 Purchased calculators from Ivanhoe Co.at a total cost of $1,740, terms n/30. Paid freight of $60 on calculators purchased from Ivanhoe Co. Returned calculators to Ivanhoe Co.for $64 credit because they did not meet specifications. Sold calculators costing $560 for $780 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 $24 Sold calculators costing $530 for $770 to Heasley Card Shop, terms n/30. Date Account Titles and Explanation Debit Credit
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