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June 1 James Co. purchased merchandise on account from O'Leary Co., $90,000, terms n/30. The cost of merchandise sold was $54,000. June 30 James Co.
| June 1 | James Co. purchased merchandise on account from O'Leary Co., $90,000, terms n/30. The cost of merchandise sold was $54,000. |
| June 30 | James Co. issued a 60-day, 5% note for $90,000 on account. |
| Aug. 29 | James Co. paid the amount due. |
James Co. (Borrower). If an amount box does not require an entry, leave it blank. When required, round your answers to the nearest dollar.
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South Western Federal Taxation 2014 Comprehensive Volume
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
37th Edition
1285180925, 978-1285180922
