Question
Journalize the following transactions for Marlin Bicycles using the periodic inventory system. Explanations are not required.(Record debits first, then credits. Exclude explanations from journal entries.
Journalize the following transactions for Marlin Bicycles using the periodic inventory system. Explanations are not required.(Record debits first, then credits. Exclude explanations from journal entries. Assume the company uses the net amount to record sales.)
Nov.2:
Purchased $3,000 of merchandise inventory on account under terms 11/10, n/EOM, and FOB shipping points.
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Horngrens Financial and Managerial Accounting
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
5th edition
9780133851281, 013385129x, 9780134077321, 133866297, 133851281, 9780133851298, 134077326, 978-0133866292
