E5.3 (LO 2, 3) On September 1, Nixa Office Supply had an inventory of 30 calculators at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. 6 9 10 12 14 20 Purchased 90 calculators at $22 each from York. Paid freight of $90 on calculators purchased from York Co. Returned 3 calculators to York Co. for $69 cash (including freight) because they did not meet specifications. Sold 26 calculators costing $23 (including freight) for $31 each on account to Sura Book Store, terms n/30. Granted credit of $31 to Sura Book Store for the return of one calculator that was not ordered. Sold 30 calculators costing $23 for $32 each on account to Davis Card Shop, terms n/30. Instructions Journalize the September transactions.

E5.3 (LO 2, 3) On September 1, Nixa Office Supply had an inventory of 30 calculators at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. 6 9 10 12 14 20 Purchased 90 calculators at $22 each from York. Paid freight of $90 on calculators purchased from York Co. Returned 3 calculators to York Co. for $69 cash (including freight) because they did not meet specifications. Sold 26 calculators costing $23 (including freight) for $31 each on account to Sura Book Store, terms n/30. Granted credit of $31 to Sura Book Store for the return of one calculator that was not ordered. Sold 30 calculators costing $23 for $32 each on account to Davis Card Shop, terms n/30. Instructions Journalize the September transactions.

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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