On September 1, Pennington Supply Had an Inventory of 20

Essay

On September 1, Pennington Supply had an inventory of 20 backpacks at a cost of $25 each. The company uses a perpetual inventory system. During September, the following transactions and events occurred.
Sept. 4 Purchased 50 backpacks at $25 each from Sievert, terms 2/10, n/30.
6 Received credit of $100 for the return of 4 backpacks purchased on September 4 that were defective.
9 Sold 25 backpacks for $40 each to Lilly Books, terms 2/10, n/30.
13 Sold 15 backpacks for $40 each to Stoner Office Supply, terms n/30.
14 Paid Sievert in full, less discount.
Instructions
Journalize the September transactions for Pennington Supply.