Food Supplies is a wholesaler which has Jim Turner, a retailer, as one of its customers. On
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Food Supplies is a wholesaler which has Jim Turner, a retailer, as one of its customers. On 1 June Jim owed £250 from the previous month. The following transactions then took place:
3 June 6 June 9 June Jim purchased £458 of materials from Food Supplies on credit.
Jim returned materials worth £75 because they were unsuitable.
Jim settled the amount due on lJune. He was entitled to 4%
cash discount.
Show how the above would be recorded in the ledger of:
(a) Food Supplies,
(b) Jim Turner.LO.1
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