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Consider the following transactions for EZ Rider Toys: (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions. Explanations are not
Consider the following transactions for EZ Rider Toys: (Click the icon to view the transactions.) Requirements 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost EZ Rider Toys? Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. Record debits first, then credits. Exclude explanations from journal entries.) May 6: EZ Rider Toys purchased $103,300 worth of PegaBlock toys on account with credit terms of 2/10, n/45. Date May 6 More info Accounts Debit Credit - May 6 May 13 EZ Rider Toys purchased $103,300 worth of PegaBlock toys on account with credit terms of 2/10, n/45. EZ Rider Toys returned $10,250 of the merchandise to PegaBlock due to damage during shipment. May 16 EZ Rider Toys paid the amount due, less the return and discount. Print Done
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