On September 1, Howe Office Supply had an inventory of 30 pocket calculators at a cost of $18 each.

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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. 

Sept. 9       Paid freight of $80 on calculators purchased from De Vito Co. 

Sep 10       Returned 2 calculators to De Vito Co. for a $42 credit (including freight) because they did not meet specifications. 

Sep  12       Sold 26 calculators costing $21 (including freight) for $31 each to Mega Book Store, terms n/30.

Sep  14       Granted credit of $31 Mega Book Store for the return of one calculator that was not ordered. 

Sep.  20      Sold 30 calculators costing $21 for $31 each to Barbara's Card Shop, terms n/30. 

 

 

Required:

 

Journalize the September transactions. 

 

    • 13 years ago
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