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 Blossom Co. at a total cost of $1,640, terms n/30.
9 Paid freight of $50 on calculators purchased from Blossom Co.
10 Returned calculators to Blossom Co. for $55 credit because they did not meet specifications.
12 Sold calculators costing $470 for $630 to Fryer Book Store, terms n/30.
14 Granted credit of $35 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $21.
20 Sold calculators costing $530 for $680 to Heasley Card Shop, terms n/30.