Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The
Question:
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred. Sept. 6Purchased calculators from Cullumber Co. at a total cost of $1,750, terms n/30. 9Paid freight of $50 on calculators purchased from Cullumber Co. 10Returned calculators to Cullumber Co. for $55 credit because they did not meet specifications. 12Sold calculators costing $600 for $760 to Fryer Book Store, terms n/30. 14Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $32. 20Sold calculators costing $500 for $740 to Heasley Card Shop, terms n/30. Journalize the September transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso