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On September 1, Oriole Supply had an inventory of 17 backpacks at a cost of $25 each. The company uses a periodic inventory system. During
On September 1, Oriole Supply had an inventory of 17 backpacks at a cost of $25 each. The company uses a periodic inventory system. During September, the following transactions and events occurred. Sept. 4 Purchased 54 backpacks at $25 each from Neufeld, terms 2/10, n/30. 6 Received credit of $200 for the return of 6 backpacks purchased on Sept. 4 that were defective. 9 Sold 34 backpacks for $33 each to Brewer Books, terms 2/10, n/30. 13 Sold 10 backpacks for $33 each to Stoner Office Supply, terms n/30. 14 Paid Neufeld in full, less discount. Journalize the September transactions for Oriole Supply. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
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