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On August 31, Sunland Supply had an inventory of 20 backpacks at a cost of $18 each. The company uses a perpetual inventory system. During

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On August 31, Sunland Supply had an inventory of 20 backpacks at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions and events occurred: Sep. 3 Purchased 60 backpacks at $20 each from Janzen, terms n/30. Received a 10% quantity discount. 6 Received credit of $72 for the return of four backpacks purchased on September 3 that were defective. 7 Paid for the September 3 purchase. 9 Sold 20 backpacks for $30 each to McGill Books, terms n/30. The cost of each backpack was $18 each. 13 Cashsales of 15 backpacks for $30 each to Calvin Office Supply. 21 Purchased 26 backpacks at $18 each from Coleman Company, terms 2/10,n/30. 30 A physical inventory count indicated an ending inventory balance of $780. Journalize the September transactions for Stanton Supply, using a perpetual inventory system. (Credit account titles are automotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries Merchandise Imventory (To record cost of zoods sold) Merchandise inventory Accounts Payable Cost of Goods Sold Merchandie Ifrventory

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