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Journal Entries Complete the following journal entries including full documentation and account numbers from the Chart of Accounts. You may use the abbreviations noted in
Journal Entries Complete the following journal entries including full documentation and account numbers from the Chart of Accounts. You may use the abbreviations noted in the chart of accounts but make it clear which account you are posting to. Journal Entries Complete all adjustments for the month. The Computer Galore is sells computer equipment. Its gross margin is 55%. The company uses a PERPETUAL inventory system. Its customer is Goodvue College. Its vendor is DCE Wholesaler. Computer Galore has paid six months of rent for $1200 three months ago. 4/1/2011 Computer Galore purchases equipment $240,000 with useful life of 10 years to be put to use immediately. b 4/2/2011 Goodvue College buys 5 computers at $500.00 each on terms 2/10 net 30 FOB destination 4/2/2011 Computer Galore pays freight of $375 for delivery on 4/2/2011. d 4/5/2011 Goodvue College returns 1 computer. e 4/7/2011 Computer Galore buys 25 cases at $75.00 each with terms 2/15 net 45 from DCE Wholesaler. Computer Galore pays freight $525 on purchase of 4/7/2011. f 4/7/2011 4/9/2011 Computer Galore returns 4 cases to DCE Wholesaler. h 4/10/2011 Goodvue College gets allowance of 5% on the delivery of 4/2/2011 i 4/11/2011 Goodvue College pays for delivery of 4/2/2011. Computer Galore pays for purchase of 4/7/2011. j 4/22/2011 Complete all adjustments for depreciation and rent
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