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1. Presented here are selected transactions for Puffin Company during April. Puffin Company uses the periodic inventory system. Joumalize the April transactions for Puffin Company.
1. Presented here are selected transactions for Puffin Company during April. Puffin Company uses the periodic inventory system. Joumalize the April transactions for Puffin Company. April 1: Sold merchandise to Mallard Company for $3,000 on terms of 4/10, n/30. The merchandise sold had a cost of $2,000. April 2: Purchased merchandise from Plover Corporation for $2,000 on terms of 2/10, n/30. April 4: Purchased merchandise from Gannet Company for $2,000 on terms of n/30. April 5: Returned inventory from Plover with a cost of $500. April 10: Received payment from Mallard Company for April 1 sale less appropriate discount April 11: Paid Plover Corporation for April 2 purchase. April 13: Paid Gannet Company for April 4 purchase
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