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Journalize the September transactions.

Journalize the September transactions.

FINANCIAL ACCOUNTING
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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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 Carla Vista Co. at a total cost of $1,800, on account, terms n/30. Paid freight of $50 on calculators purchased from Carla Vista Co. Returned calculators to Carla Vista Co. for $51 credit because they did not meet specifications. Sold calculators costing $460 for $670 to Fryer Book Store, on account, terms n/30. Granted credit of $40 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $28. Sold calculators costing $560 for $780 to Heasley Card Shop, on account, terms n/30. Journalize the September transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Sept. 6 Account Titles and Explanation Supplies Expense Debit 1800 Credit 1800
Transcribed Image Text: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 Carla Vista Co. at a total cost of $1,800, on account, terms n/30. Paid freight of $50 on calculators purchased from Carla Vista Co. Returned calculators to Carla Vista Co. for $51 credit because they did not meet specifications. Sold calculators costing $460 for $670 to Fryer Book Store, on account, terms n/30. Granted credit of $40 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $28. Sold calculators costing $560 for $780 to Heasley Card Shop, on account, terms n/30. Journalize the September transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.) Date Sept. 6 Account Titles and Explanation Supplies Expense Debit 1800 Credit 1800
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