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Kindly assist with the tabular summary for recording the transactions. Assume that on September 1, Office Depot had an inventory that included a variety of
Kindly assist with the tabular summary for recording the transactions.
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpe inventory system. During September, these transactions occurred. Sept: 6 Purchased calculators from Pharoah Co. at a total cost of $1,848, on account, terms n/30. 9 Paid freight of \$56 on calculators purchased from Pharoah Co. 10 Returned calculators to Pharoah Co. for $69 credit because they did not meet specifications. 12 Sold calculators costing $576 for $776 to Sheridan Book Store, on account, terms n/30. 14 Granted credit of $52 to Sheridan Book Store for the return of one calculator that was not ordered. The calculat cos$43. 20 Sold calculators costing $632 for $848 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. - Decreases in assets, liabilities, or stoekholders' equity require a negative sign or parentheses. - Increases in expenses require a negativesign or parenthesesStep by Step Solution
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