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answer please. Enter the following transactions in the finaneial statement model below. 1. Purchased $60,000 of merchandise inventory on accotant, terms 2/10,n/30. 2. The goods
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Enter the following transactions in the finaneial statement model below. 1. Purchased $60,000 of merchandise inventory on accotant, terms 2/10,n/30. 2. The goods purchased in event 1 were delivered fob shipping point. Freight costs of $1, 500 were paid in tash tay the respansible party. 3. Returned $3,000 of goods purchased in event 1 . A. Recorded the cash discount an the goods perchased in event 1 Paid the balance due on event 1 . 5. Sold 559,000 of merchandise that had cost 545,000 . 6. The goods sold in event 5 were sold to customers. FOD diestination. Freight tasts of 51,400 were paid in cash by the responsible party. 7. Paid cash of $9,000 for selling and administrative expenses. 8. Sold the land for $14,500 cash Step by Step Solution
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