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6. Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross
6. Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. 5 Purchased 900 units of product at a cost of $10 per unit. Terms of the sale are 4/10, n/60; the invoice is dated 4 Nov. November 5. points 7 Returned 35 defective units from the November 5 purchase and received full credit. Nov. Nov. 15 Paid the amount due from the November 5 purchase, minus the return on November 7. X 02:15:54 View transaction list Journal entry worksheet Purchased 900 units of product at a cost of $10 per unit. Terms of the sale are 4/10, n/60; the invoice is dated November 5. Note: Enter debits before credits. General Journal Date Debit Credit Nov 05 Record entry Clear entry View general journal View transaction list Journal entry worksheet 2 3 Returned 35 defective units from the November 5 purchase and received full credit. Note: Enter debits before credits. General Journal Credit Date Debit Nov 07 Record entry Clear entry View general journal View transaction list Journal entry worksheet 3 Paid the amount due from the November 5 purchase, minus the return on November 7. Note: Enter debits before credits. Date General Journal Debit Credit Nov 15 Record entry Clear entry View general journal
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