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Journalize the following transactions The company purchases 1000 of WidgetA for 2.00 per widget from the company that manufacturers Widget A. The company pays $500
Journalize the following transactions
- The company purchases 1000 of WidgetA for 2.00 per widget from the company that manufacturers Widget A.
- The company pays $500 in freight for materials shipped above on FOB shipping point. *Note: Ignore freight costs in calculation of unit cost. Use cost given in 1st transaction.
- The company returns 100 of WidgetA for a refund.
- The company pays the balance due, within the discount period 2/10, to vendor for transaction above.
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
16th edition
1259307417, 978-1260153132, 1260153134, 978-1259307416
