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QUESTION 1 As of September 1, Efficient Supplier has an inventory of 30 sets of stationery at a cost of RM18 per set. Efficient Suppliers

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QUESTION 1 As of September 1, Efficient Supplier has an inventory of 30 sets of stationery at a cost of RM18 per set. Efficient Suppliers use a continuous inventory system. During the month of September the following transactions were involved: Sept. 6 9 10 12 Purchased 80 sets of stationery at RM20 per set from Mega Sdn Bhd, condition n/30. Pay the freight cost of RM80 for the purchase on 6 sept Return 3 sets of stationery to Mega Sdn Bhd to get a credit of RM63 (including freight cost) because Mega Sdn Bhd does not follow the required specifications. Selling 26 sets of stationery (cost RM21 including transportation cost) at RM31 per set to Kedai Buku Cemerlang, condition n/30. Give credit as much as RM31 to Kedai Buku Cemerlang for the return of a set of stationery not included in the order. Selling 30 sets of stationery (cost RM21) at RM31 per set to Pintar Enterprise. 14 20 Be required: Journal transactions throughout September

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