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6. Morrill Manufacturing had inventory of $350 on March 1. The company had the following transactions during March. March 2 Purchased inventory on account for
6. Morrill Manufacturing had inventory of $350 on March 1. The company had the following transactions during March. March 2 Purchased inventory on account for $1,800, terms 2/10, n/30. March 3 Returned $150 worth of inventory from the Mar. 2 purchase. March 9 Paid the appropriate amount for the inventory purchased on Mar. 2. March 17 Sold inventory costing $1,000 for $1,920 in cash. March 28 Prepared closing entries for the month (prepare entries only for sales and cost of goods sold) Prepare the appropriate journal entry for each of the above transactions assuming Morrill Manufacturing uses the perpetual inventory method
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