Exercise 5-2

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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. 6		Purchased calculators from Dragoo Co. at a total cost of $1,750, terms n/30.
9		Paid freight of $50 on calculators purchased from Dragoo Co.
10		Returned calculators to Dragoo Co. for $55 credit because they did not meet specifications.
12		Sold calculators costing $600 for $760 to Fryer Book Store, terms n/30.
14		Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $32.
20		Sold 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.)