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Oriole Office Supply uses a perpetual inventory system. On September 12, Oriole sold 27 calculators costing $24 for $30 each to Pharoah Bookstore, terms /30.
Oriole Office Supply uses a perpetual inventory system. On September 12, Oriole sold 27 calculators costing $24 for $30 each to Pharoah Bookstore, terms /30. During the remainder of September, the following transactions occurred. Sept. 14 Granted credit of $30 to Pharoah Bookstore for the return of one calculator that was not ordered. 20 Received balance due from Pharoah Bookstore. Prepare the journal entries required by Oriole Office Supply on September 14 and 20. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit (To record credit ranted for recelot of returned goods)
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