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Assume that on April 1, Borders had an inventory that included a variety of calculators....

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Accounting

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Assume that on April 1, Borders had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During April, these transactions occurred. - Apr. 5 Purchased calculators from Thrifty at a total cost of $1,440, terms n/30. - Apr 7 Paid freight of $120 on calculators purchased from Thrifty. - Apr 10 Returned calculators to Thrifty for $75 credit because they did not meet specifications. - Apr 11 Sold calculators costing $580 for $770 to Jack's Book Store, terms n/30. - Apr 13 Granted credit of \$75 to Jack's Book Store for the return of one calculator that was not ordered. The calculator cost $55. - Apr 20 Sold calculators costing $790 for $950 to Kinds Card Shop, terms 1/10 and n/30. - Apr 22 Kinds Card Shop paid amount due in full

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