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On September 1, Nixa Office Supply had an inventory of 35 calculators at a cost of $16 each. The company uses a perpetual inventory system.
On September 1, Nixa Office Supply had an inventory of 35 calculators at a cost of $16 each. The company uses a perpetual inventory system. During September, the following transactions occurred.
Sept. 6 | Purchased with cash 85 calculators at $25 each from York Co. | |
Sept. 9 | Paid freight of $85 on calculators purchased from York Co. | |
Sept. 10 | Returned 5 calculators to York in exchange for $130 cash (including reimbursement for freight fee) because they did not meet specifications. | |
Sept. 12 | Sold 27 calculators costing $26 (including freight) for $32 each to Sura Book Store, terms n/30. | |
Sept. 14 | Granted credit of $32 to Sura Book Store for the return of one calculator that was not ordered. | |
Sept. 20 | Sold 31 calculators costing $26 for $33 each to Davis Card Shop, terms n/30. |
Journalize the September transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
please include all answers and calculation. thank you
List of accounts:
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