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Presented here are selected transactions for Alpine Tours Inc. during September of the current year. Alpine Tours uses a perpetual inventory system. Alpine Tours estimates
Presented here are selected transactions for Alpine Tours Inc. during September of the current year. Alpine Tours uses a perpetual inventory system. Alpine Tours estimates a return rate of 5% based on past experience. Sept. 2 Purchased equipment on account for $69,400, terms n/30, FOB destination. 3 Freight charges of $940 were paid by the appropriate party on the September 2 purchase of equipment. 4 Purchased supplies for $4,400 cash. 6 Purchased inventory on account from Winterholt Company at a cost of $61,700, terms 1/15,n/30, FOB shipping point. 7 Freight charges of $1,500 were paid by the appropriate party on the September 6 inventory purchase. 8 Returned damaged goods costing $5,500 that were originally purchased from Winterholt Company on September 6. Received a credit on account. 9 Sold goods costing $16,300 to Fischer Limited for $21,300 on account, terms n/30, FOB destination. 10 Freight charges of $350 were paid by the appropriate party on the September 9 sale of inventory. 17 Received the balance due from Fischer. 20 Paid Winterholt Company the balance due. 21 Purchased inventory for $5,500 cash. 22 Sold inventory costing $20,200 to Kun-Tai Inc. for $25,500 on account, terms n/30, FOB shipping point. 23 Freight charges of $500 were paid by the appropriate party on the September 22 sale of inventory. 28 Kun-Tai returned goods sold for $1,010 that cost $750. The merchandise was restored to inventory. Record the September transactions on Alpine Tours's books. (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 reauired. select "No Entry" for the account titles 1.09/4 Determine Alpine Tours's sales and cost of goods sold for September. Sales $ Cost of goods sold eTextbook and Media List of Accounts Attempts: 1 of 3 used (c) The parts of this question must be completed in order. This part will be available when you complete the part above
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