Current Attempt in Progress Novak Ltd. had beginning inventory of 51 units that cost $100 each. During September, the company purchased 208 units on account at $100 each, returned 7 units for credit, and sold 157 units at $201 each on account. Journalize the September transactions, assuming that Novak Ltd. uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Inventory Debit Credit 20800 Accounts Payable (To record purchase on account) Accounts Payable 700 20800 Journalize the September transactions, assuming that Novak Ltd. uses a periodic inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record purchase on account) Assume that Novak Ltd. uses a periodic system and prepares financial statements at the end of each month. An inventory count determines that there are 95 units of inventory remaining at September 30. Prepare the adjusting entry that is needed at September 30 to report cost of goods sold. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Sep. 30 Debit Credit