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how do i do this? Purchasing Inventory 1. A list of transactions for the Jax Taylor Memorabilia Sales Company appears below. A perpetual inventory system

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Purchasing Inventory 1. A list of transactions for the Jax Taylor Memorabilia Sales Company appears below. A perpetual inventory system is used. March 2 Purchased merchandise from Oliver Company for $4,000 cash. March 3 Purchased merchandise from Merlyn Company, $5,000, FOB shipping point, Terms 2/10,n/30. March 8 Paid freight on the March 2 purchase, $125 March 11 Paid Merlyn Company the amount owed. March 18 Purchased merchandise from Marcus Company for $9,000, FOB destination, Terms 1/10,n/30. March 28 Paid Marcus Company the amount owed. April 1 Purchased merchandise from Jill Herring Company, $5,000, FOB destination, Terms 2/10,n/30. April 7 Returned one-fourth of the merchandise acquired in the April 1 transaction to the Jill Herring Company due to merchandise defects. April 10 Paid Jill Herring Company the balance owed. Instructions: Prepare the journal entries to record these transactions on the books of the Jax Taylor Memorabilia Sales Company

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