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Cullumber Company has the following selected transactions during March Mar 2 Purchased equipment costing $7,060 from Bole Company on account. 5 2 Received credit of
Cullumber Company has the following selected transactions during March Mar 2 Purchased equipment costing $7,060 from Bole Company on account. 5 2 Received credit of $480 from Carwell Company for merchandise damaged in shipment to Cullumber Issued credit of $600 to Dempsey Company for merchandise the customer returned. The returned merchandise had a cost of $295. Cullumber Company uses a one-column purchases Journal, a sales journal, the columnar cash journals used in the text, and a general Journal (a) Journalize the transactions in the general Journal (Credit account titles are automatically indented when amount is entered. Do not Indent manually. Record journal entries in the order presented in the problem) Date Account Titles and Explanation Debit Credit 7060 Mar. 2 Equipment Accounts Payable 2060 M5 Account Pwable Inventory
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