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During July 2021, the following transactions and events occurred for Alpha Echo Charlie Ltd who uses a periodic inventory system and is registered for GST.
During July 2021, the following transactions and events occurred for Alpha Echo Charlie Ltd who uses a periodic inventory system and is registered for GST. Date 3/7/2021 6/7/2021 Transaction Purchased $3,410 of inventory; terms 5/10, n/60. Returned $770 of the inventory purchased on July 3 12/7/2021 Paid for the goods purchased on July 3. 13/7/2021 Sold goods on credit for $6,270; terms 3/10, n/30. 31/7/2021 Received payment from the customer who purchased goods on July 13. Required: Prepare the journal entries to record the transactions. Please Note: Narrations are NOT required Type your response directly into the template in the text box below
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