Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. to record credit sale,merchandise sold,returned,co

to record credit sale,merchandise sold,returned,cost,credit sale,,THANK YOU IN ADVANCE!!!! Assume...

90.2K

Verified Solution

Question

Accounting

to record credit sale,merchandise sold,returned,cost,credit sale,,THANK YOU IN ADVANCE!!!!
image
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred. Sept. 6 Purchased calculators from Dragoo Co. at a total cost of $1,600, on account, terms n/30FOB shipping point. 9 Paid freight of $50 on calculators purchased from Dragco Co. 10 Returned calculators to Dragoo C0, for $66 credit because they did not meet specifications. 12 Sold calculators costing $520 for $690 to Fryer Book Store, on account, terms n/30. 14 Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $34. 20 Sold calculators costing $570 for $760 to Heasley Card Shop, on account, terms n/30. Journalize the September transactions for Office Depot. (Credit account titles are outomatically indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts, Record journal entries in the order presented in the problem)

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!
Become a Member

Other questions asked by students

Q

Classify the following graph as a cross section

Statistics
Q

58 54 Saved Gordon earns 400 per week plus 3 of sales in excess of...

Basic Math
Q

The process of identifying potential employees, communicating job and organizational attributes to them, and convincing them...

Operations Management
Q

In situations where there are very closely tied, interacting species, evolution in one species is...

Biology
Q

Here is a graph of the function g 54 3 2 m s 40 W...

Calculus
Q

Let f x be the number in thousands of computers sold when the price is...

Calculus
Q

Suppose that P is invested in a savings account in which interest k is compounded...

Algebra
Q

Pittman Company is a small but growing manufacturer of telecommunications equipment. The company has no...

Accounting
Q

Skysong Supply Company, a newly formed corporation, incurred the following expenditures related to Land, to...

Accounting
Q

two questions I need help with please 18. (-/5 Points)...

Accounting
Q

Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on...

Accounting
Q

Question 3 you Having just inherited a large sum of money, you are trying to...

Finance