6:48 Not Secure – myclass.holycross.edu.ph - 1 of 1 Instruction: Journalize the September transactions. On September 1, Van Office Supply had an inventory of 30 calculators at a cost of P900 each. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. 9. Purchased 90 calculators at P1,100 each from Ian Co., terms net/30. Paid freight of P4,500 on calculators purchased from Ian Co. 10 Returned 3 calculators to Ian Co. for P3,450 credit (including freight) because they did not meet specifications. 12 Sold 26 calculators costing P1,150 (including freight) for P1,550 each to Erick Book Store, term n/30. 14 Granted credit of P1,150 to Erick Book Store for the return of one calculator that was not ordered. 20 Sold 30 calculators costing P1,150 for P1,600 each to Henrita's Card Shop, terms n/30.

6:48 Not Secure – myclass.holycross.edu.ph - 1 of 1 Instruction: Journalize the September transactions. On September 1, Van Office Supply had an inventory of 30 calculators at a cost of P900 each. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. 9. Purchased 90 calculators at P1,100 each from Ian Co., terms net/30. Paid freight of P4,500 on calculators purchased from Ian Co. 10 Returned 3 calculators to Ian Co. for P3,450 credit (including freight) because they did not meet specifications. 12 Sold 26 calculators costing P1,150 (including freight) for P1,550 each to Erick Book Store, term n/30. 14 Granted credit of P1,150 to Erick Book Store for the return of one calculator that was not ordered. 20 Sold 30 calculators costing P1,150 for P1,600 each to Henrita's Card Shop, terms n/30.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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