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Exercise 6-9 (Algo) Record transactions using a perpetual system (LO6-5) [The following information applies to the questions displayed below.] Littleton Books has the following transactions
Exercise 6-9 (Algo) Record transactions using a perpetual system (LO6-5) [The following information applies to the questions displayed below.] Littleton Books has the following transactions during May. May 2 Purchanes booke on account from Readern Wholenale for $3,600, terme 1/10, 8/30. May 3 Pays cash for freight costs of $230 on booke purchaned fron Peadera. May 5 Returnn bookn with a coet of 3300 to Resdera becaual part of the order in incorreet. May 10 pays the tul1 amount due to Reddert. May 30 Sella all books purchased on May 2 (less those returned on May 5) for 54,300 on account. xercise 6-9 (Algo) Part 1 required: 1. Record the transections of Littleton Books, assuming the company uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account fleld.) Journal entry worksheet Record purchase of books on account from Readers Wholesole for $3,600, terms 1/10,N30
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