The Brown Electric Company uses the perpetual inventory system. Record these transactions in a two-column journal. 201X
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The Brown Electric Company uses the perpetual inventory system. Record these transactions in a two-column journal.
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201X 3 Purchased 45 model 77 DX Light fixtures on account from Nonstop Electric at total cost of $1,800; terms n/30. Feb. 5 Sold 9 model U67 light fixtures for cash for $252 total. The cost of these 9 fixtures amounted to $162. 6 Our customer returned 4 model U67 light fixtures. We gave the customer a $112 cash refund. 10 We issued a debit memo for $120 to Nonstop Electric for 3 model 77 DX light fixtures that came in damaged in the shipment of February 3.
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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