Paxson Supply Company uses a periodic inventory system. During September, the following transactions and events occurred.
Sept. 3 Purchased 80 backpacks at $20 each from Barnes Company, terms 2/10, n/30.
Sept. 6 Received credit of $100 for the return of 5 backpacks purchased on Sept. 3 that were defective.
Sept. 9 Sold 15 backpacks for $40 each to Starr Books, terms 2/10, n/30.
Sept. 13 Paid Barnes Company in full.
Instructions
Journalize the September transactions for Paxson Supply Company.

Question

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The Answer of Paxson Supply Company uses a periodic inventory system. During September, the following transactions and events occurred.
Sept. 3 Purchased 80 backpacks at $20 each from Barnes Company, terms 2/10, n/30.
Sept. 6 Received credit of $100 for the return of 5 backpacks purchased on Sept. 3 that were defective.
Sept. 9 Sold 15 backpacks for $40 each to Starr Books, terms 2/10, n/30.
Sept. 13 Paid Barnes Company in full.
Instructions
Journalize the September transactions for Paxson Supply Company.

Paxson Supply Company Uses a Periodic Inventory System