On September 1, Nixa Office supply had an inventory that included a variety of calculators....
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On September 1, Nixa Office supply had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, the following transactions occurred.
Journalize the September transactions for Nixa Office Supply
Journalize perpetual inventory entries. E5-3 (LO 2, 3). AP On September 1, Nixa 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 York Co. at a total cost of $1,980, terms n/30, FOB shipping point. 9 Paid freight of $90 on calculators purchased from York Co. 10 Returned calculators to York Co. for $69 cash (including freight) because they did not meet specifications. 12 Sold calculators costing $598 for $806 to Sura Book Store, on account, terms n/30. 14 Granted credit of $31 to Sura Book Store for the return of one calculator that was not ordered. The calculator cost $23. 20 Sold 30 calculators costing $690 for $960 on account to Davis Card Shop, on account, terms n/30. Instructions Journalize the September transactions for Nixa Office Supply
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