omputers has the following transactions in Septem ne icon to view the transactions.) he purchase transactions for Salem Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table rchase of $24,500 worth of computers on account, term of 2/ 10, n/30. More info Accounts and Explanation Debit Credit September 1. Purchase of $24,500 worth of computers on account, term of 2/10, n/30. September 3 Return of $5,000 of the computers to the vendor. September 9 Payment made on account Print Done

Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter5: Accounting Systems
Section: Chapter Questions
Problem 14E: Guardian Services Inc. had the following transactions during the month of April: a. Record the June...
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7. Salem Computers has the following transactions in September related to purchase of merchandise inventory.
A (Click the icon to view the transactions.)
Journalize the purchase transactions for Salem Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
Sept. 1: Purchase of $24,500 worth of computers on account, term of 2/ 10, n/30.
- X
More info
Date
Accounts and Explanation
Debit
Credit
Sept. 1
September 1. Purchase of $24,500 worth of computers on account, term of 2/10, n/30.
September 3 Return of $5,000 of the computers to the vendor.
September 9 Payment made on account.
Print
Done
Transcribed Image Text:7. Salem Computers has the following transactions in September related to purchase of merchandise inventory. A (Click the icon to view the transactions.) Journalize the purchase transactions for Salem Computers assuming the company uses the perpetual inventory system. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Sept. 1: Purchase of $24,500 worth of computers on account, term of 2/ 10, n/30. - X More info Date Accounts and Explanation Debit Credit Sept. 1 September 1. Purchase of $24,500 worth of computers on account, term of 2/10, n/30. September 3 Return of $5,000 of the computers to the vendor. September 9 Payment made on account. Print Done
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