Ex. 199 On September 1, Reid Supply had an inventory of 15 backpacks at a cost of $25 each. The company uses a perpetual inventory system. During September, the following transactions and events occurred. Sept. 4 Purchased 70 backpacks at $25 each from Hunter, terms 2/10, 1/30. 10% Sept. 6 Received credit of $150 for the return of 6 backpacks purchased on Sept. 4 that were defective Sept. 9 Sold 40 backpacks for $35 each to Oliver Books, terms 2/10, 1/30.1035 Sept. 13 Sold 15 backpacks for $35 each to Heller Office Supply, terms /30. 15X35 Sept. 14 Paid Hunter in full, less discount Instructions Journalize the September transactions for Reid Supply Inventory 150 Accounts Payable 1950 150 Accounts Payable . Inventory 150 Accounts Receivable 100 soles reyone -: 1400 JE12 Account Receivable 525 sales revenue 525 Accounts Payable 150 X (-4) Sales discount (x0-02) 25 1715 -Cash eclared but have not we not been declare dve not been deri ve been declared