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HOW DO YOU FIGURE OUT PART (C)??? EQUATIONS PLEASE!! Prepare the journal entries to record these transactions on Wildhorse Company's books using a periodic inventory
HOW DO YOU FIGURE OUT PART (C)??? EQUATIONS PLEASE!!
Prepare the journal entries to record these transactions on Wildhorse Company's books using a periodic inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 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.) On March 2, Wildhorse Company purchased $883,000 of merchandise from Windsor Company, terms 2/10, n/30. (a) (b) On March 6, Wildhorse Company returned $117,300 of the merchandise purchased on March 2. (c) On March 12, Wildhorse Company paid the balance due to Windsor Company. Date No. Account Titles and Explanation Debit Credit March 2 () Inventory 883,000 Accounts Payable 883,000 (b) March 6 Inventory 117,300 Cash 117,300 (c) March 12 Accounts Payable Cash InventoryStep by Step Solution
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