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Cullumber Co. had the following transactions during October. 1. On October 8, purchased merchandise on account from Ivanhoe Company for $14,200, terms 2/10, n/30. 2.
Cullumber Co. had the following transactions during October.
1. | On October 8, purchased merchandise on account from Ivanhoe Company for $14,200, terms 2/10, n/30. | |
2. | On October 9, paid freight costs of $420 on merchandise purchased from Ivanhoe Company. | |
3. | On October 11, returned $2,300 of October 8 merchandise to Ivanhoe Company. | |
4. | On October 18, paid the amount due to Ivanhoe Company in full. |
Use a tabular summary to record the transactions listed above for Cullumber Co.'s books. CullumberCo. uses a perpetual inventory system. Include margin explanations for the changes in revenues and expenses.(Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Books. CullumberCo uses a perpetual inventory Le margin explanations for the changes in revenues and expenses (Enter negative amounts using either a negative sign preceding the number ..-45 or parentheses es. (451) CU Assets Liabilities Date Cash Inventory Accounts Payable Commo: Oct. 8 $ $ 9 11 18 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit Answer inges in pevenues and expenses.(Enter negative amounts using either a negative sign preceding the number 4.3. -45 or parentheses e.g. (45).) Stockholders' Equity Retained Earnings Common Stock Rev. Exp. Div. $ $ e Textbook and Media List of AccountsStep by Step Solution
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