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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. 6 Purchased calculators from Pharoah Co. at a total cost of $1,485, on account, terms n/30. 9 Paid freight of $45 on calculators purchased from Pharoah Co. 10 Returned calculators to Pharoah Co. for $58 credit because they did not meet specifications. 12 Sold calculators costing $466 for $622 to Sheridan Book Store, on account, terms n/30. 14 Granted credit of $41 to Sheridan Book Store for the return of one calculator that was not ordered. The calculator cost$32. 20 Sold calculators costing $511 for $683 to Sunland 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. (45).) Sep. 6 Cate Retained Earnings Accounts PayableCommonStock+Rev. Exp. Exp. Div. $ $

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