Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. assume that on september 1, office depot had an in

Assume that on September 1, Office Depot had an inventory that included a variety of...

80.2K

Verified Solution

Question

Accounting

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 C0. at a total cost of $1,670, on account, terms n30 FOB shipping point.
9 Paid freight of $52 on calculators purchased from Dragoo Co.
10 Returned calculators to Dragoo Co. for $72 credit because they did not meet specifications.
12 Sold calculators costing $480 for $620 to Fryer Book Store, on account, terms n/30.
14 Granted credit of $41 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $33.
20 Sold calculators costing $600 for $690 to Heasley Card Shop, on account, terms n30.
Journalize the September transactions for Office Depot. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)
Date
Account Titles and Explanation
Debit
Credit
image

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

Finance
1.2K views

Starware Software was founded last year to develop software for gaming applications. The founder initially invested...

Programming
1.2K views

Write a function called format_name that accepts a string in the format of first name followed by...

Physics
1.2K views

what are the major postulates of the einstein's theory of special relativity? why is it important?

Finance
1.2K views

WACC and Company Valuation Mini Case Study Brian Jones is a 30-year-old managing director of Full...

Basic Math
1.2K views

Find the exact values of sin 2u, cos 2u, tan2u if cosu =(-3/7) and ?

Calculus
1.2K views

QUESTION 1 Decide whether or not the functions are inverses of each other f x...

Algebra
1.2K views

10 Decide which of the following lists of song data is represented by the dot...

Accounting
1.2K views

Annual cash inflows from two competing investment projects are given below. Year 1 234...

Accounting
1.2K views

Oakton Furniture provided the following information relevant to its sales for December Year 1 and...

Accounting
1.2K views

Requirement 2: The company just hired a new marketing manager who insists unit sales can...

Accounting
1.2K views

Required information The following information applies to the questions displayed below.) Wells Technical Institute (WTI),...

Finance
1.2K views

A friend needs $500 now, and will pay you back $570 in a year. Is...