On September 1, Stanton Supply had an inventory of 20 back packs at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions and events occurred:
Sept. 3 Purchased 40 back packs at $20 each from Janzen terms n/30. Received a 10% quantity discount.
6 Received credit of $72 for the return of 4 back packs purchased on Sept. 3 that were defective.
7 Paid for the September 3 purchase.
9 Sold 20 back packs for $30 each to McGill Books terms n/30.
13 Cash sales 15 back packs for $30 each to Calvin Office Supply.
21 Purchased 25 back packs at $18 each from Coleman Company terms 2/10, n/30.
30 A physical inventory count indicated an ending inventory balance of $774.
Instructions
Journalize the September transactions for Stanton Supply, using a perpetual inventory system.

Question

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The Answer of On September 1, Stanton Supply had an inventory of 20 back packs at a cost of $18 each. The company uses a perpetual inventory system. During September, the following transactions and events occurred:
Sept. 3 Purchased 40 back packs at $20 each from Janzen terms n/30. Received a 10% quantity discount.
6 Received credit of $72 for the return of 4 back packs purchased on Sept. 3 that were defective.
7 Paid for the September 3 purchase.
9 Sold 20 back packs for $30 each to McGill Books terms n/30.
13 Cash sales 15 back packs for $30 each to Calvin Office Supply.
21 Purchased 25 back packs at $18 each from Coleman Company terms 2/10, n/30.
30 A physical inventory count indicated an ending inventory balance of $774.
Instructions
Journalize the September transactions for Stanton Supply, using a perpetual inventory system.

On September 1, Stanton Supply Had an Inventory of 20