On September 1, Sheffield Office Supply had an inventory that included a variety of calculators. The...

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On September 1, Sheffield Office Supply had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. Purchased calculators from Skysong Co. at a total cost of $1,955, terms n/30, FOB shipping point. 9. Paid freight of $85 on calculators purchased from Skysong Co. 10 Returned calculators to Skysong Co. for $48 cash (including freight) because they did not meet specifications. 12 Sold calculators costing $696 for $986 to Sura Book Store, on account, terms n/30. Granted credit of $34 to Sura Book Store for the return of one calculator that was not ordered. The calculator cost 14 $24. 20 Sold 30 calculators costing $768 for $1,088 on account to Davis Card Shop, on account,terms n/30. Journalize the September transactions for Sheffield Office Supply. (List all debit entries before credit entries. Credit account titles are automatically indented when 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.) On September 1, Sheffield Office Supply had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. Purchased calculators from Skysong Co. at a total cost of $1,955, terms n/30, FOB shipping point. 9. Paid freight of $85 on calculators purchased from Skysong Co. 10 Returned calculators to Skysong Co. for $48 cash (including freight) because they did not meet specifications. 12 Sold calculators costing $696 for $986 to Sura Book Store, on account, terms n/30. Granted credit of $34 to Sura Book Store for the return of one calculator that was not ordered. The calculator cost 14 $24. 20 Sold 30 calculators costing $768 for $1,088 on account to Davis Card Shop, on account,terms n/30. Journalize the September transactions for Sheffield Office Supply. (List all debit entries before credit entries. Credit account titles are automatically indented when 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.)

Answer rating: 100% (QA)

Debit Credit 1955 1955 Date Particulars Sep06 Inventor Accounts Payable Being Credit Purchases M... View the full answer