On September 1, Bridgeport Office Supply had an inventory of 30 calculators at a cost...
50.1K
Verified Solution
Link Copied!
Question
Accounting
On September 1, Bridgeport 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 Purchased 100 calculators at $ 21 each from York Co. Sept. 9 Paid freight of $ 100 on calculators purchased from York Co. Sept. 10 Returned 3 calculators to York Co. for $66 cash (including freight) because they did not meet specifications. Sept. 12 Sold 28 calculators costing $ 22 (including freight) for $ 33 each on account to Sura Book Store, terms n/30. Sept. 14 Granted credit of $ 33 to Sura Book Store for the return of one calculator that was not ordered. Sept. 20 Sold 34 calculators costing $ 22 for $ 36 each on account to Davis Card Shop, terms n/30. Journalize 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.) Date Account Titles and Explanation Debit Credit Date Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) (To record cost of merchandise sold) (To record merchandise returned) (To record cost of merchandise returned) (To record credit sale) (To record cost of merchandise sold)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!