Question 10 On September 1, the beginning of its fiscal year, Thietke Company Ltd. had an inventory of 100 calculators at a cost of $19 each. The company uses a perpetual inventory system. During September, the following transactions occurred: Sept. 2 10 11 Purchased 789 calculators for $19 each from Digital Corp. on account, terms n/30. Returned 9 calculators to Digital for $171 credit because they did not meet specifications. Sold 272 calculators for $30 each to Thietke Book Store, terms n/30. Granted credit of $300 to Thietke Book Store for the return of 10 calculators that were not ordered. The calculator were restored to inventory. Sold 270 calculators for $30 each to Student Card Shop, terms 1/10, n/30. Paid Digital the amount owing. Received payment in full from the Student Card Shop. 21 29 30 Your answer is partially correct. Try again. Record the September transactions. (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. Round answers to o decimal places, e.g. 125.) Date Account Titles and Explanation Debit Credit Sept. 2 Inventory 14991 Accounts Payable 14991 10 Accounts Payable Inventory 11 Accounts Receivable 8160 T Sales (To record credit sale) 11 Cost of Goods Sold 5168 Inventory 5168 Your answer is partially correct. Try again. Create T accounts for the Inventory and Cost of Goods Sold accounts. Enter the opening balances and post the September transactions. (Post entries in the order presented in the problem) Inventory Sept. 1 Bal. A 1900 Sept.10 171 T Sept. 11 5168 L Sept.21 5130 Sept.30 Bal. 6612 Cost of Goods Sold 1980:00 DEBO DOO Sept. 11 5130 Sept.21 5130 10108 Inventory 5168 (To record cost of merchandise sold) 14 Sales Returns and Allowances Accounts Receivable 300 (To record return of goods) 14 Tinventory 3000 Cost of Goods Sold 3000 (To record cost of merchandise returned) 21 Accounts Receivable Sales 8100 (To record credit sale) 21 Cost of Goods Sold 5130 Inventory (To record cost of merchandise sold) 29 Accounts Payable Cash 14820 30 Cash Sales Discounts Accounts Receivable 8100