Question: Printer Supply Company sells computer printers and printer supplies. One of its products is a toner cartridge for laser printers. At the beginning of the

Printer Supply Company sells computer printers and printer supplies. One of its products is a toner cartridge for laser printers. At the beginning of the year, there were 200 cartridges on hand at a cost of $60 each. During the year, Printer Supply purchased 1,500 cartridges at $60 each, sold 800 cartridges at $95 each, and sold an additional 750 cartridges at $102 each after a midyear selling price increase. Printer Supply returned 10 defective cartridges to the supplier. In addition, customers returned 15 cartridges that were purchased at $102 to Printer Supply for various reasons. Assume that Printer Supply uses a periodic inventory system.
Required:
Prepare journal entries to record the purchases, sales, and return of inventory. Assume that all purchases and sales are on credit but no discounts were offered. If an amount box does not require an entry, leave it blank.
 Printer Supply Company sells computer printers and printer supplies. One of

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