Essay
On September 1, Hendricks Supply had an inventory of 18 backpacks at a cost of $20 each. The company uses a periodic inventory system. During September, the following transactions and events occurred.
Sept. 4 Purchased 50 backpacks at $20 each from Neufeld, terms 2/10, n/30.
6 Received credit of $100 for the return of 5 backpacks purchased on Sept. 4 that were defective.
9 Sold 30 backpacks for $30 each to Brewer Books, terms 2/10, n/30.
13 Sold 10 backpacks for $30 each to Stoner Office Supply, terms n/30.
14 Paid Neufeld in full, less discount.
Instructions
Journalize the September transactions for Hendricks Supply.
Correct Answer:
Verified
Correct Answer:
Verified
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