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Following are the October 2022 transactions for Computer Solutions. The company extends credit terms of n/30, FOB shipping point, to all customers who purchase merchandise.
Following are the October 2022 transactions for Computer Solutions. The company extends credit terms of n/30, FOB shipping point, to all customers who purchase merchandise. Computer Solutions uses a perpetual inventory system and uses the gross method to record purchases and sales on account. Inventory is maintained using FIFO for general ledger purposes. Part 2 is two parts. You will need to complete the quiz for part 2a before recording the transactions in QuickBooks to ensure you have the correct numbers for the first October 1 transaction. All transactions will be entered using journal entries. The assignment requirements follow the transactions. Please make sure you read the requirements before recording the transactions in QuickBooks
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