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Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetu inventory system. During September,
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetu inventory system. During September, these transactions occurred. Sept. 6 Purchased calculators from Pharoah Co. at a total cost of $1,700, terms n/30. 9 Paid freight of $60 on calculators purchased from Pharoah Co. 10 Returned calculators to Pharoah Co. for $63 credit because they did not meet specifications. 12 Sold calculators costing $450 for $610 to Fryer Book Store, terms n/30. 14 Granted credit of $35 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cos 20 Sold calculators costing $650 for $850 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 0 for the amounts. account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented problem.)
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