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During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Purchased goods for $5,700

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During the month of June, Ace Incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Purchased goods for $5,700 from Dianond Incorporated with terns 2/10,n/30. June 5 Returned goods costing $1,900 to 01anond Incorporated for credit on account. June 6 Purchased goods from Club Corporation for $1,800 with terss 2/10,n/30. June 11 Paid the balance owed to Dianond Incorporated. June 22 Paid Club Corporation in full. Required: Prepare joumal entries to record the transactions, assuming Ace records discounts using the gross method in a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the inventory purchased of $5,700 on account from Diamond Incorporated with terms 2/10,N/30. Woke: Eiter debits before credts. During the month of June. Ace incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3 Purchased goods for $5,709 fron Dianond Incorporated with teras 2/10,n/30. June 5 Returned goods costing $1,90a to 0 ianond Incorporated for credit on account. June 6 Purchased goods fron Club Corperation for $1,800 with teras 2/10,n/30. June 11 Paid the balance owed to Dianond Incorporated. June 22 paid Club Corporation in full. Required: Prepare journal entries to record the transactions, assuming Ace records discounts using the gross method in a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Pequired" in the first account field.) Journal entry worksheet 5 Record the inventory returned of $1,900 to Diamend Incorporated. Note Enter debits befere credts. Journal entry worksheet 5 Record the inventory purchased of $1,800 on account from Club Corporation with terms 2/10,n/30. Note: Enter debits before credits. repare journal entries to record the transactions, assuming Ace records discounts using the gross method in a perpetual yystem. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 1 Record the payment in full for the inventory to Diamond Incorporated. Note: Enter debits before credits. Journal entry worksheet 134 Record the payment in full for the inventory to Club Corporation. Note: Enter debits before credits

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