Question
ABC book store is selling business books, magazines and stationeries. The following transactions were occurred in February 2020 (GST inclusive). Feb. 6 Purchased books from
ABC book store is selling business books, magazines and stationeries. The following transactions were occurred in February 2020 (GST inclusive).
Feb. 6 Purchased books from Book Depository $880, terms 2/7, n/30.
7 Paid freight on February 6 purchase $44.
8 Sold inventory to customers $990, terms n/30. The inventory cost $600.
10 Returned $99 books to Book Depository.
13 Paid Book depository in full.
Required
Prepare the journal entries to record the transactions.
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Principles Of Taxation For Business And Investment Planning 2023
Authors: Sally Jones, Shelley Rhoades-Catanach, Sandra Callaghan, Thomas Kubick
26th Edition
1264229747, 978-1264229741
