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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
On September 1, Samardo Office Supply had an inventory of 30 calculators at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions occurred.
Sept. 6 Purchased 80 calculators at $20 each from Samuels Co. for cash.
9 Paid freight of $80 on calculators purchased from Samuels Co.
10 Returned 3 calculators to Samuels Co. for $63 credit (including freight) because they did not meet specifications.
12 Sold 26 calculators costing $21 (including freight) for $31 each to Trent Book Store, terms n/30.
14 Granted credit of $31 to Trent Book Store for the return of one calculator that was not ordered.
20 Sold 30 calculators costing $21 for $32 each to Plaisted’s Card Shop, terms n/30.
Instructions
Journalize the September transactions.
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