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Journalize with T accounts begin{tabular}{|l|l|} hline Date & Transaction hline May 1 & Paid rent for May hline May 2 & Sold merchandise
Journalize with T accounts
\begin{tabular}{|l|l|} \hline Date & Transaction \\ \hline May 1 & Paid rent for May \\ \hline May 2 & Sold merchandise on account to Korman Co.terms n/12 FOB shipping point , $ 68,500 . The cost of the goods sold was $41,000. \\ \hline May 3 & Purchases merchandise on account from Martin Co, terms 2/10n/30 FOB shipping point $36,000. \\ \hline \end{tabular} Required: 1. Journalize the transactions of May. \begin{tabular}{|l|l|} \hline Date & Transaction \\ \hline May 1 & Paid rent for May \\ \hline May 2 & Sold merchandise on account to Korman Co.terms n/12 FOB shipping point , $ 68,500 . The cost of the goods sold was $41,000. \\ \hline May 3 & Purchases merchandise on account from Martin Co, terms 2/10n/30 FOB shipping point $36,000. \\ \hline \end{tabular} Required: 1. Journalize the transactions of MayStep by Step Solution
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