Question 3 On September 1, Culver Office Supply had an inventory of 35 calculators at...
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Question 3 On September 1, Culver Office Supply had an inventory of 35 calculators at a cost of $14 each. The company uses a perpetual inventory system. During September, the following transactions occurred. Sept. 6 Sept. 9 Sept. 10 Sept. 12 Sept. 14 Sept. 20 Purchased with cash 90 calculators at $23 each from Tamarisk, Inc Paid freight of $90 on calculators purchased from Tamarisk, Inc. Returned 3 calculators to Tamarisk, Inc. for $72 cash (including freight) because they did not meet specifications. Sold 28 calculators costing $24 (including freight) for $33 each on account to Lee Book Store, terms 1/30. Granted credit of $33 to Lee Book Store for the return of one calculator that was not ordered. Sold 35 calculators costing $24 for $37 each on account to Orr's Card Shop, terms 1/30. Date Account Titles and Explanation Debit Credit (To record credit sale) (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)
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