Question
Exercise 5-05 On June 10, Marin Company purchased $7,300 of merchandise from Cullumber Company, on account, terms 3/10, n/30. Marin pays the freight costs of
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2. Prepare separate entries for each transaction for Cullumber Company. The merchandise purchased by Marin on June 10 cost Cullumber $2,400, and the goods returned cost Cullumber $210. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
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