On September 1, Novak Office Supply had an inventory of 35 calculators at a cost...
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Accounting
On September 1, Novak Office Supply had an inventory of 35 calculators at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions occurred.
Sept 6. Purchased with cash 85 calculators at $ 25 each from Larkspur Inc
Sept 9 Paid freight of $85 calculators purchased from Larkspur Inc
Sept 10 Returned 5 calculators to Larkspur Inc for $130 cash (including freight) because they did not meet specifications
Sept 12 Sold 27 calculators costing $26 (including freight) for $32 each on account to Lee Book storms, terms n/30
Sept 14 Granted credit of $32 to Lee Book Store for the return of one calculator that was not ordered
Sep 20 Sold 31 Calculators costing $26 for $33 each on account to Orr's card shop, terms n/30
Journalize the September transactions
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