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Prepare journal entries IN GOOD FORM for the September

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Question - On September 1, Duffs Beer Distributor had an inventory of 60 cases of beer at a cost of $21 each. The company uses a perpetual inventory system. During September, the following transactions occurred.

Sept 6 Purchased 75 cases at $20 each from Iron City Brewers, terms 2/10, n/30.

Sept 9 Paid freight of $75 on the cases purchased from Iron City Brewers.

Sept 10 Returned 2 cases to Iron City Brewers for $40 credit because they did not meet specifications. They had a "skunky" smell.

Sept 11 Paid Iron City Brewers what was owed from the Sept 6th purchase.

Sept 12 Sold 41 cases costing $21 each for $34 each to the Drunken Clam, terms 2/10,n/30.

Sept 14 Granted credit of $34 to the Drunken Clam for the return of one case that was not ordered.

Sept 21 Received payment in full from the Drunken Clam.

Required - Prepare journal entries IN GOOD FORM for the September transactions. Include Sales and cost of goods sold entries if applicable.

Reference no: EM132554120

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