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Journalize entries for the following related transactions of Lilly Heating & Air Company. Refer to the Chart of Accounts for exact wording of account titles.
Journalize entries for the following related transactions of Lilly Heating & Air Company. Refer to the Chart of Accounts for exact wording of account titles. A. Purchased $53, 100 of merchandise from Schell Co. on account, terms 1/10, 1/30. B. Paid the amount owed on the invoice within the discount period, C. Discovered that $7,100 of the merchandise purchased in (A) was defective and returned items, receiving credit. D. Purchased $5,900 of merchandise from Schell Co on account, terms 1/30 E. Received a refund from Schell Co. for return in (C) less the purchase in (D)
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