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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 ON 9 10 12 Purchased calculators from Oriole Co. at a total cost of $1,452, on account, terms 1/30. Paid freight of $44 on calculators purchased from Oriole Co. Returned calculators to Oriole Co. for $57 credit because they did not meet specifications. Sold calculators costing $456 for $608 to Pharoah Book Store, on account, terms n/30. Granted credit of $40 to Pharoah Book Store for the return of one calculator that was not ordered. The calculator cost $31. Sold calculators costing $500 for $668 to Sheridan Card Shop, on account, terms r/30. 14 20 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 eg. -45 or parentheses es (45).) Assets Liabil Date Cash Accounts Receivable Inventory Acco Payi Sep 6
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