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Flint Inc. uses a perpetual inventory system. During April, the following transactions occurred: Apr 3 Purchased $4,000 of merchandise, terms 3/10,n/60. 6 Returned $1,300 of
Flint Inc. uses a perpetual inventory system. During April, the following transactions occurred: Apr 3 Purchased $4,000 of merchandise, terms 3/10,n/60. 6 Returned $1,300 of the merchandise purchased on April 3. 7 Paid freight charges of $350 on goods purchased on April 3. 12 Paid for the goods purchased on April 3. 13 Sold goods costing $800 on credit for $3,000. Estimated returns are 10%. 14 The customer of April 13 returned $500 of the goods that had a cost of $380. 23 Received payment from the customer of April 13. Prepare journal entries to record the above transactions.(If no entry is required, select "No Entry" for the account titles and enter O 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. List all debit entries before credit entries.)
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