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having difficulty with jan.14 #3 0.50 polnts E6-8 Recording Journal Entries for Purchases and Purchase Discounts Using a Perpetual Inventory Sytem LO 6-3) During the
having difficulty with jan.14 #3
0.50 polnts E6-8 Recording Journal Entries for Purchases and Purchase Discounts Using a Perpetual Inventory Sytem LO 6-3) During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows Jan 6 Purchased goods for $1,400 from Green with terms 2/10, nv/30 6 Purchased goods frorn Munoz for $1.100 with terms 2/10, rv30 14 Paid Green in tu Feb 2 Paid Munoz in full 28 Purchased goods for $450 trom Reynolds with terms 2/10, n/45 Required: Prepare journal entries to record the transactions, assuming Ave uses a perpetual inventory system (If no entry is required tor a transactionievent, select "No Journal Entry Required" in the first account field.) View ist View journel entry worksheet Debit Ced No te Jan 6Inventory 1 400 Accounts Payable Jan 6nventory Accounts Payable 300Step by Step Solution
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