Question 1: (Total 10 marks) (a) Morton Supply Company uses a periodic inventory system. During September, the following transactions and events occurred. (4 marks) Sept. 3 Purchased 80 backpacks at $20 each from Cole Company, terms 2/10, n/30 Sept. 6 Received credit of $100 for the return of 5 backpacks purchased on Sept. 3 that were defective. Sept. 9 Sold 15 backpacks for $40 each to Starr Books, terms 2/10, n/30. Sept. 13 Paid Cole Company in full. - Instructions: Journalize the September transactions for Morton Supply Company. Answer: General Journal Account Title & Explanation Date Debit Credit