ACCOUNTING HELP
On September 1, Howe Office Supply had an inventory of 30 pocket calculators at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions occurred.
Sept. | 6 | Purchased 80 calculators at $20 each from De Vito Co. for cash. |
9 | Paid freight of $80 on calculators purchased from De Vito Co. | |
10 | Returned 2 calculators to De Vito Co. for a $42 credit (including freight) because they did not meet specifications. | |
12 | Sold 26 calculators costing $21 (including freight) for $31 each to Mega Book Store, terms n/30. | |
14 | Granted credit of $31 Mega Book Store for the return of one calculator that was not ordered. | |
20 | Sold 30 calculators costing $21 for $31 each to Barbara's Card Shop, terms n/30. |
Instructions
Journalize the September transactions.
12 years ago 5
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