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On September 1, Novak Office Supply had an inventory of 35 calculators at a cost of $18 each. The company uses a perpetual inventory system.
On September 1, Novak Office Supply had an inventory of 35 calculators at a cost of $18 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 Larkspur, Inc.. Sept. 9 Paid freight of $85 on calculators purchased from Larkspur, Inc- Sept. 10 Returned 5 calculators to Larkspur, Inc. for $130 cash (including freight) because they did not meet specifications. Sept. 12 Sold 27 calculators costing $26 (including freight) for $32 each on account to Lee Book Store, terms n/30. Sept. 14 Granted credit of $32 to Lee Book Store for the return of one calculator that was not ordered. Sept. 20 Sold 31 caiculators costing $26 for $33 each on account to Orr's Card Shop, terms N/30. Journalize the September transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the
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