Question Details

Journalize the September transactions for Snow Supply



On September 1, Snow Supply had an inventory of 15 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 70 backpacks at $25 each from Jenks, terms 2/10, n/30.
Sept. 6 Received credit of $150 for the return of 6 backpacks purchased on Sept. 4 that were
defective.
Sept. 9 Sold 40 backpacks for $35 each to McGill Books, terms 2/10, n/30.
Sept. 13 Sold 15 backpacks for $35 each to Calvin Office Supply, terms n/30.
Sept. 14 Paid Jenks in full, less discount.
Instructions
Journalize the September transactions for Snow Supply.



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