Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

F12… On October 1, Freed Supply had an inventory of 15 backpacks

F12… On October 1, Freed Supply had an inventory of 15 backpacks

at a cost of $20 each. The company uses a perpetual inventory system. During October, the following transactions and events occurred.

Oct. 4 Purchased 70 backpacks at $20 each from hunters, terms 2/10, n/30.
Oct. 6 Received credit of $100 for the return of 5 backpacks purchased on Oct. 4 that were defective.
Oct. 9 Sold 40 backpacks for $35 each to Oliver Books, terms 2/10, n/30.
Oct. 13 Sold 15 backpacks for $35 each to Heller Office Supply, terms n/30.
Oct. 14 Paid Hunter in full, less discount.

Journalize the October transactions for Freed Supply.

 
Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code "Newclient"