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Flint Co. records purchase discounts lost and uses perpetual inventories. Prepare journal entries in general journal form for the following: 1) Purchased merchandise costing $2,500
Flint Co. records purchase discounts lost and uses perpetual inventories. Prepare journal entries in general journal form for the following: 1) Purchased merchandise costing $2,500 with terms 2/10, n/30. 2) Payment was made thirty days after the purchase.
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