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Current Attempt in Progress Prepare the necessary general journal entries for the month of October for Sandhill Retail for each situation given below. Sandhill uses
Current Attempt in Progress Prepare the necessary general journal entries for the month of October for Sandhill Retail for each situation given below. Sandhill uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Oct. 5 Paid cash of $15,120 for operating expenses that were incurred and properly recorded in the previous period. 9 Purchased merchandise for $26,400 on account. Credit terms: 3/10, n/30. 12 Paid a freight bill of $128 for merchandise purchased on October 9. 17 Paid for merchandise purchased on October 9. The company takes all discounts to which it is entitled. 20 Sold merchandise for $9,600 to Rattles Distribution on account. The cost of the merchandise sold was $3,840. Credit terms: 2/10, n/30. 26 Issued a credit memo to Rattles Distribution for $360 for merchandise returned from the sale on October 20. The cost of the merchandise returned was $224
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