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Exercise 8.3 (Algo) Recording purchases made for cash and on account, with purchase returns. LO 8-1 Required: Record the following transactions of Fronke's Fashions in
Exercise 8.3 (Algo) Recording purchases made for cash and on account, with purchase returns. LO 8-1 Required: Record the following transactions of Fronke's Fashions in a general journal: DATE TRANSACTIONS 20X1 April 1 Purchased merchandise for cash, $1,110. 2 Returned merchandise for cash purchased on April 1; received a cash refund of $128. 4 Purchased merchandise on credit from Breit Distributors, Invoice 125, $651, terms n/30; freight of $26. prepaid by Breit Distributors and added to the invoice. 7 Returned damaged merchandise purchased on April 4 from Breit Distributors; received Credit Memorandum 202 for $33. 30 Paid the amount due to Breit Distributors for the purchase of April 4, less the return on April 7, Check 1458. View transaction list Journal entry worksheet Purchased merchandise for cash, $1,110. Note: Enter debits before credits. Date General Journal Debit Credit Apr. 01 20X1 Record entry Clear entry View general journal
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