E5-3 (LO 2, 3), AP 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 9 10 12 14 20 Purchased calculators from Dragoo Co. at a total cost of $1,600, on account, terms n/30, FOB shipping point. Paid freight of $50 on calculators purchased from Dragoo Co. Returned calculators to Dragoo Co. for $66 credit because they did not meet specifications. Sold calculators costing $520 for $690 to Fryer Book Store, on account, terms n/30. Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $34. Sold calculators costing $570 for $760 to Heasley Card Shop, on account, terms n/30. Instructions Journalize the September transactions for Office Depot. Journalize perpetual inventory entries.
E5-3 (LO 2, 3), AP 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 9 10 12 14 20 Purchased calculators from Dragoo Co. at a total cost of $1,600, on account, terms n/30, FOB shipping point. Paid freight of $50 on calculators purchased from Dragoo Co. Returned calculators to Dragoo Co. for $66 credit because they did not meet specifications. Sold calculators costing $520 for $690 to Fryer Book Store, on account, terms n/30. Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $34. Sold calculators costing $570 for $760 to Heasley Card Shop, on account, terms n/30. Instructions Journalize the September transactions for Office Depot. Journalize perpetual inventory entries.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![E5-3 (LO 2, 3), AP 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
9
10
12
14
20
Purchased calculators from Dragoo Co. at a total cost of $1,600, on account, terms n/30, FOB shipping point.
Paid freight of $50 on calculators purchased from Dragoo Co.
Returned calculators to Dragoo Co. for $66 credit because they did not meet specifications.
Sold calculators costing $520 for $690 to Fryer Book Store, on account, terms n/30.
Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $34.
Sold calculators costing $570 for $760 to Heasley Card Shop, on account, terms n/30.
Instructions
Journalize the September transactions for Office Depot.
Journalize perpetual inventory entries.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6501bcec-69f0-41c7-aaf6-9d4563ecc7cd%2F93b8283d-47cf-422d-83be-b1e3b273fb89%2F8s90sf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:E5-3 (LO 2, 3), AP 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
9
10
12
14
20
Purchased calculators from Dragoo Co. at a total cost of $1,600, on account, terms n/30, FOB shipping point.
Paid freight of $50 on calculators purchased from Dragoo Co.
Returned calculators to Dragoo Co. for $66 credit because they did not meet specifications.
Sold calculators costing $520 for $690 to Fryer Book Store, on account, terms n/30.
Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $34.
Sold calculators costing $570 for $760 to Heasley Card Shop, on account, terms n/30.
Instructions
Journalize the September transactions for Office Depot.
Journalize perpetual inventory entries.
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