$($b$)$

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Prepare journal entries for the September transactions, assuming that Bramble uses a periodic inventory system. $($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 $0$ for the amounts. List all debit entries before credit entries.$)$

Account Titles and Explanation

Accounts Payable

$($To record purchase on account$)$

Accounts Payable

Purchase Returns and Allowances

$($To record purchase return$)$

Debit

Credit

$($To record sales on account$)$

Assume that Bramble uses a periodic system and prepares financial statements at the end of each month. An inventory count determines that there are $98$ units of inventory remaining at September $30.$ Prepare the adjusting entry that is needed at September $30$ to report cost of goods sold. $($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 $0$ for the amounts. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Sep.

$30$

Cost of Goods Sold

Inventory

Purchases

Inventory