Lavender Gifts and Novelties use a perpetual inventory system. All sales are on terms of 2/15, n/30.

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Lavender Gifts and Novelties use a perpetual inventory system. All sales are on terms of 2/15, n/30. During May, the following selected transactions occurred. Identify into which special journal each transaction should be journalized. Also indicate which sub ledger(s) is (are) affected. Use the list of codes to label your answers. Assume a perpetual inventory system.

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Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

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