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Company A had the following transactions during August: 5-Aug Purchased $3,000 of merchandise on account, terms 2/15 n/60, FOB shipping point 10-Aug Returned $500 of
| Company A had the following transactions during August: | |||||
| 5-Aug | Purchased $3,000 of merchandise on account, terms 2/15 n/60, FOB shipping point | ||||
| 10-Aug | Returned $500 of defective merchandise purchased on Aug 5 | ||||
| 15-Aug | Sold $1,200 of merchandise on account which cost the company $800 | ||||
| Assuming the perpetual inventory system is used, prepare the journal entries to record the above. Remember that perpetual inventory will affect inventory. | |||||
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Investing In People Financial Impact Of Human Resource Initiatives
Authors: John W. Boudreau, Wayne F. Cascio, Alexis A. Fink
3rd Edition
1586446096, 978-1586446093
