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Instructions Travis Company purchased merchandise on account from a supplier for $11,100, terms 2/10, net 30 on December 26. Travis Company paid for the merchandise
Instructions Travis Company purchased merchandise on account from a supplier for $11,100, terms 2/10, net 30 on December 26. Travis Company paid for the merchandise on December 31, within the discount period. Required: Under a perpetual inventory system, record the journal entries required for the above transactions. Refer to the Chart of Accounts for exact wording of account titles. General Journal x Record the journal entries on each transaction. Refer to the Chart of Accounts for exact wording of account titles. JOURNAL ACCOUNTING EQUAT DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES 1 2 3 4
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