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A company has the following transactions during March: March 3 Purchases inventory on account for $ 3 , 9 0 0 , terms 2 1
A company has the following transactions during March:
March Purchases inventory on account for $ terms
March Pays freight costs of $ on inventory purchased on March
March Returns inventory with a cost of $
March Pays the full amount due on March purchase.
March Sells all inventory purchased on March less those returned on March for $ on account.
Record all transactions, assuming the company uses a perpetual inventory system. If no entry is required for a particular transactionevent select No Journal Entry Required" in the first account field.
Journal entry worksheet
Record the purchase of inventory on account for $ terms
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditMarch
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