On September 1, the beginning of its fiscal year, Blossom Ltd. had an inventory of 124 calculators at a cost of $20 each. The company uses a perpetual inventory system. During September, the following transactions occurred: Sept. 2 Purchased 930 calculators for $20 each from Digital Corp. on account, terms n/30. Returned 30 calculators to Digital for $600 credit because they did not meet specifications. 10 11 Sold 430 calculators for $30 each to Campus Book Store, terms n/30. Management estimates returns of 4% based on prior experience. 14 Granted credit of $900 to Campus Book Store for the return of 30 calculators that were not ordered. The calculators were restored to inventory. 29 20 Paid Digital the amount owing. 30 Received payment in full from the Campus Book Store. (a) Record the September transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Sept. 2 Inventory Accounts Payable Sept. 10 Accounts Payable. Inventory Debit 18600 600 Sept. 11 v Accounts Receivable 12900 Sales Sept 11 No Entry (To record credit sale) Cost of Goods Sold Inventory 8600 Credit 18600 600 12900 8600 Inventory (To record cost of merchandise sold) Sept. 14 Sales Returns and Allowances Sept. 14 Sept. 29 Accounts Receivable (To record return of goods) Inventory Cost of Goods Sold (To record cost of merchandise returned) Accounts Payable Cash Sept. 30 Cash Accounts Receivable 900 18600 12000 8600 900 600 18600 12000