On September 1, Concord Office Supply had an inventory that included a variety of calculators. The company uses a perpet

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On September 1 Concord Office Supply Had An Inventory That Included A Variety Of Calculators The Company Uses A Perpet 1 (149.32 KiB) Viewed 52 times

On September 1, Concord Office Supply had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. 6 Purchased calculators from Shamrock Co. at a total cost of $2,090, terms n/30, FOB shipping point. 9 10 12 Paid freight of $95 on calculators purchased from Shamrock Co. Returned calculators to Shamrock Co.for $69 cash (including freight) because they did not meet specifications. Sold calculators costing $690 for $1.050 to Sura Book Store, on account, terms n/30. , . Granted credit of $35 to Sura Book Store for the return of one calculator that was not ordered. The calculator cost $23. $ Sold 30 calculators costing $759 for $1,155 on account to Davis Card Shop, on account terms n/30. $, 14 20 Journalize the September transactions for Concord Office Supply. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no enti Date Account Titles and Explanation Debit Credit Sept. 6 Inventory Accounts Payable Sept. 9 Inventory Cash Sept. 10 Accounts Payable Inventory Sept. 12 V Accounts Receivable Sales Revenue (To record credit sale) Sept. 12 V Sales Returns and Allowances Accounts Receivable (To record cost of merchandise sold) Sept. 14 Sales Returns and Allowances Accounts Receivable (To record merchandise returned) Sept. 14 Inventory Cost of Goods Sold (To record cost of merchandise returned) Sept. 20 Accounts Receivable Sales Revenue (To record credit sale) Sent 20 Cast of Goods Sold