30) Journalize the following transactions using the periodic system: Sept. 3Purchased $1,870 worth of inventory from Sierra Company with terms 2/10 n/30. Sept. 9 Returned $400 worth of the...

30) Journalize the following transactions using the periodic system:

Sept. 3Purchased $1,870 worth of inventory from Sierra Company with terms 2/10 n/30.

Sept. 9 Returned $400 worth of the inventory purchased on Sept. 3 as goods were defective.

Sept.12 Paid for the Sept. 3 purchase.

Sept.19 Purchased $900 of merchandise on account from Lola Company with Terms of 3/15, n/45.

31) Prepare the period-end adjusting entries for a periodic inventory system:

Beginning Inventory$55,000

Purchases $69,000

Purchases Discounts $4,000

Purchases Returns$6,500

Transportation-in 32,000

Ending Inventory $52,000