Reference no: EM132704043
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 Crane Co. at a total cost of $1,610, terms n/30.
9 Paid freight of $40 on calculators purchased from Crane Co.
10 Returned calculators to Crane Co. for $52 credit because they did not meet specifications.
12 Sold calculators costing $580 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 $650 for $800 to Heasley Card Shop, terms n/30.
Problem 1: Journalize the September transactions.
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