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Journalize the september transactions for reid supply

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Reference no: EM133140659

Question - On September 1, Reid Supply had an inventory of 15 backpacks at a cost of $20 each. The company uses a perpetual inventory system. During September, the following transactions and events occurred.

Sept. 4 Purchased 70 backpacks at $20 each from Hunter, terms 2/10, n/30.

Sept. 6 Received credit of $100 for the return of 5 backpacks purchased on Sept. 4 that were 6 defective.

Sept. 9 Paid $90 freight on 9/4 purchase.

Sept. 14 Paid Hunter in full, less discount.

Required - Journalize the September transactions for Reid Supply.

Reference no: EM133140659

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