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 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 Cullumber Co. at a total cost of $1,750, terms n/30. | |
9 | Paid freight of $50 on calculators purchased from Cullumber Co. | |
10 | Returned calculators to Cullumber Co. for $55 credit because they did not meet specifications. | |
12 | Sold calculators costing $600 for $760 to Fryer Book Store, terms n/30. | |
14 | Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $32. | |
20 | Sold calculators costing $500 for $740 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. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept. 14Sept. 20 | enter an account title for entry 1 | enter a debit amount | enter a credit amount |
enter an account title for entry 1 | enter a debit amount | enter a credit amount | |
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept. 14Sept. 20 | enter an account title for entry 2 | enter a debit amount | enter a credit amount |
enter an account title for entry 2 | enter a debit amount | enter a credit amount | |
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept. 14Sept. 20 | enter an account title for entry 3 | enter a debit amount | enter a credit amount |
enter an account title for entry 3 | enter a debit amount | enter a credit amount | |
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept. 14Sept. 20 | enter an account title for entry 4 to record credit sales | enter a debit amount | enter a credit amount |
enter an account title for entry 4 to record credit sales | enter a debit amount | enter a credit amount | |
(To record sale of calculators on account) | |||
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept. 14Sept. 20 | enter an account title for entry 5 | enter a debit amount | enter a credit amount |
enter an account title for entry 5 | enter a debit amount | enter a credit amount | |
(To record cost of calculators sold) | |||
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept. 14Sept. 20 | enter an account title for entry 6 to record credit granted for returned goods | enter a debit amount | enter a credit amount |
enter an account title for entry 6 to record credit granted for returned goods | enter a debit amount | enter a credit amount | |
(To record return of calculator that was not ordered) | |||
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept. 14Sept. 20 | enter an account title for entry 7 | enter a debit amount | enter a credit amount |
enter an account title for entry 7 | enter a debit amount | enter a credit amount | |
(To record cost of calculators returned) | |||
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept. 14Sept. 20 | enter an account title for entry 8 to record sales | enter a debit amount | enter a credit amount |
enter an account title for entry 8 to record sales | enter a debit amount | enter a credit amount | |
(To record sale of calculators on account) | |||
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept. 14Sept. 20 | enter an account title for entry 9 to record cost of goods sold | enter a debit amount | enter a credit amount |
enter an account title for entry 9 to record cost of goods sold | enter a debit amount | enter a credit amount | |
(To record cost of calculators sold) |
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