Question

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 Green Box Co. at a total cost of $1,620, terms n/30.
9 Paid freight of $50 on calculators purchased from Green Box Co.
10 Returned calculators to Green Box Co. for $38 credit because they did not meet specifications.
12 Sold calculators costing $520 for $690 to University Book Store, terms n/30.
14 Granted credit of $45 to University Book Store for the return of one calculator that was not ordered. The calculator cost $34.
20 Sold calculators costing $570 for $760 to Campus Card Shop, terms n/30.

Answer 1

I assume the question is write the journal entries so here they are:

DR Inventory 1,620
CR Accounts Payable 1,620

DR Inventory 50
CR Cash 50

DR Accounts Payable 38
CR Inventory 38

DR Accounts Receivable 690
CR Sales Revenues 690

DR Coast of Goods Sold 520
CR Inventory 520

DR Sales returns 45
CR Accounts Receivable 45

DR Inventory 34
CR Cost of Goods Sold 34

DR Accounts Receivable 760
CR Sales Revenues 760

DR Cost of Goods Sold 570
CR Inventory 570