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On September 1, Rasha Supply uses a perpetual inventory system. During September, the following transactions and events occurred. Sept. 4 Purchased 70 backpacks at $20
On September 1, Rasha Supply uses a perpetual inventory system. During September, the following transactions and events occurred. Sept. 4 Purchased 70 backpacks at $20 each from Hunter, terms 2/10, n/30. Sept 5. Paid Frieght $60 cash Sept. 6 Return of 5 backpacks purchased on Sept. 4 that were defective. Sept. 9 Sold 40 backpacks for $35 each to Oliver Books, terms 2/10, n/30. Sept. 14 Paid Hunter in full, less discount Instructions Journalize the September transactions for Rasha Supply. (10 marks)
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