Patt Wholesale, Inc.
On September 1, 2012, Patt Wholesale purchased 70 widgets for $35,000 cash and also paid $1,500 transportation costs related to this purchase. On the same date, Patt purchased 100 jiggies for $10,000 on credit; however, the seller paid the $1,200 freight. The credit terms for the jiggies were 2/10, n/30. On September 3rd, Patt determined that 5 of the widgets were defective, so they were returned to the seller. Patt paid for the jiggies on September 9th. On September 10th, Patt purchased 90 wackets for $8,000 on credit with terms 1/10, n/30. The seller paid the freight. Patt paid for the wackets on September 21st.
Refer to the information presented for Patt Wholesale, Inc. Prepare all of Patt's journal entries for September. Patt uses a periodic inventory system.

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The Answer of Patt Wholesale, Inc.
On September 1, 2012, Patt Wholesale purchased 70 widgets for $35,000 cash and also paid $1,500 transportation costs related to this purchase. On the same date, Patt purchased 100 jiggies for $10,000 on credit; however, the seller paid the $1,200 freight. The credit terms for the jiggies were 2/10, n/30. On September 3rd, Patt determined that 5 of the widgets were defective, so they were returned to the seller. Patt paid for the jiggies on September 9th. On September 10th, Patt purchased 90 wackets for $8,000 on credit with terms 1/10, n/30. The seller paid the freight. Patt paid for the wackets on September 21st.
Refer to the information presented for Patt Wholesale, Inc. Prepare all of Patt's journal entries for September. Patt uses a periodic inventory system.

Patt Wholesale, Inc. on September 1, 2012, Patt Wholesale Purchased 70 Widgets for 70