Assume that on September 1, Office Depot had aninventory that included a variety of calculators. The company usesa perpetual inventory system. During September, these transactionsoccurred.
Sept. 6 | | Purchased calculators from Wildhorse Co. at a total cost of$1,670, terms n/30. |
9 | | Paid freight of $60 on calculators purchased from WildhorseCo. |
10 | | Returned calculators to Wildhorse Co. for $55 credit becausethey did not meet specifications. |
12 | | Sold calculators costing $470 for $700 to Fryer Book Store,terms n/30. |
14 | | Granted credit of $40 to Fryer Book Store for the return of onecalculator that was not ordered. The calculator cost $30. |
20 | | Sold calculators costing $580 for $790 to Heasley Card Shop,terms n/30. |
Journalize the September transactions. (If no entry isrequired, select "No Entry" for the account titles and enter 0 forthe amounts. Credit account titles are automatically indented whenamount is entered. Do not indent manually. Record journal entriesin the order presented in the problem.)
Date | Account Titles and Explanation | Debit | Credit |
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choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept.14Sept. 20 | enter an account title for entry 1 | enter a debit amount | enter a credit amount |
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| enter an account title for entry 1 | enter a debit amount | enter a credit amount |
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choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept.14Sept. 20 | enter an account title for entry 2 | enter a debit amount | enter a credit amount |
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| enter an account title for entry 2 | enter a debit amount | enter a credit amount |
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choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept.14Sept. 20 | enter an account title for entry 3 | enter a debit amount | enter a credit amount |
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| enter an account title for entry 3 | enter a debit amount | enter a credit amount |
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choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept.14Sept. 20 | enter an account title for entry 4 to record credit sales | enter a debit amount | enter a credit amount |
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| enter an account title for entry 4 to record credit sales | enter a debit amount | enter a credit amount |
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| (To record sale of calculators on account) | | |
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept.14Sept. 20 | enter an account title for entry 5 | enter a debit amount | enter a credit amount |
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| enter an account title for entry 5 | enter a debit amount | enter a credit amount |
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| (To record cost of calculators sold) | | |
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept.14Sept. 20 | enter an account title for entry 6 to record credit granted forreturned goods | enter a debit amount | enter a credit amount |
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| enter an account title for entry 6 to record credit granted forreturned goods | enter a debit amount | enter a credit amount |
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| (To record return of calculator that was not ordered) | | |
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept.14Sept. 20 | enter an account title for entry 7 | enter a debit amount | enter a credit amount |
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| enter an account title for entry 7 | enter a debit amount | enter a credit amount |
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| (To record cost of calculators returned) | | |
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept.14Sept. 20 | enter an account title for entry 8 to record sales | enter a debit amount | enter a credit amount |
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| enter an account title for entry 8 to record sales | enter a debit amount | enter a credit amount |
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| (To record sale of calculators on account) | | |
choose a transaction date Sept. 6Sept. 9Sept. 10Sept. 12Sept.14Sept. 20 | enter an account title for entry 9 to record cost of goodssold | enter a debit amount | enter a credit amount |
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| enter an account title for entry 9 to record cost of goodssold | enter a debit amount | enter a credit amount |
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| (To record cost ofcalculators sold) | |