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 Abacus Co. at a total cost of $1,650, terms n/30.
9 Paid freight of $50 on calculators purchased from Abacus Co.
10 Returned calculators to Abacus Co. for $66 credit because they did not meet specifications.
12 Sold calculators costing $520 for $690 to Union Book Store, terms n/30.
14 Granted credit of $45 to Union Book Store for the return of one calculator that was not ordered. The calculator cost $34.
20 Sold calculators costing $570 for $760 to Commons Card Shop, terms n/30.
Instructions
Journalize the September transactions.