i need help on jouanlazing this transactiions. Thank you. Assume that on Septemb
ID: 2501401 • Letter: I
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i need help on jouanlazing this transactiions. Thank you.
Assume that on September 1. Office Depot had an inventory that included a variety of calculators. The company use* a perpetual inventory system. During September, these transactions occurred. Sept. 6 Purchased calculators from Dragoo Co. at a total cost of $1,620, terms n/30. Paid freight of $60 on calculators purchased from Dragoo Co. Returned calculators to Dragoo Co. for $51 credit because they did not meet specifications. Sold calculators costing $560 for $SOO to Fryer Book Store, 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. Credit Sold calculators costing $510 for $710 to Heasley Card Shop, terms n/30. JoumaKze the September transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)Explanation / Answer
Office Depot Journal Entries Date Account Title Dr $ Cr $ Sep 6. Merchandise Inventory 1,620 Accounts Payable 1,620 Sep 9. Merchandise Inventory 60 Cash 60 (freight paid and inventorized) Sep 10. Merchandise Inventory 54 Accounts Payable 54 Sep 12. Sales 800 Accounts Receivable 800 Sep 12. Cost Of Merchandise Sold 560 Merchandise Inventory 560 Sep14. Sales return 40 Accounts Receivable 40 Sep14. Cost Of Merchandise Sold 28 Merchandise Inventory 28 Sep 20. Sales 710 Accounts Receivable 710 Sep 20. Cost Of Merchandise Sold 510 Merchandise Inventory 510
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