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CIVICCIO 1127 Question 1 (20 points] Prepare journal entries for November, 2014 to record the following transactions for Weber Inc. Assume a perpetual inventory system
CIVICCIO 1127 Question 1 (20 points] Prepare journal entries for November, 2014 to record the following transactions for Weber Inc. Assume a perpetual inventory system Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). a. November 1: Weber Inc. purchased merchandise on credit from Dylex Corporation, terms 2/15, n/60, $6,200, FOB destination. b. November 10: Received a credit memorandum in the amount of $2,900 acknowledging the return of merchandise purchased from Dylex Corporation on November 1. c. November 18: Weber Inc. purchased merchandise from Star Inc. for $9,000 under credit terms of 2/15, n/60, FOB destination. d. November 20: Paid Dylex Corporation the balance due. e. November 27: Weber Inc. purchased supplies by paying $2,200. f. November 30: Paid the balance due to Star Inc. Please use the 't' and buttons to change the number of accounts (if necessary) for each journal entry. General Journal Date Account/Explanation F Debit Credit Page GJ8 + + + 11 + +
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