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May 2 Purchases books on account from Readers Wholesale for $2,200, terms 1/10, n/30. May 3 Pays freight costs of $140 on books purchased from
May 2 | Purchases books on account from Readers Wholesale for $2,200, terms 1/10, n/30. |
May 3 | Pays freight costs of $140 on books purchased from Readers. |
May 5 | Returns books with a cost of $400 to Readers because part of the order is incorrect. |
May 10 | Pays the full amount due to Readers. |
May 30 | Sells all books purchased on May 2 (less those returned on May 5) for $2,600 on account. |
9. Award:0 out of 10.00 points
Show correct answerRequired: | |
1. | Record the transactions of Littleton Books, assuming the company uses a perpetual inventory system.(Omit the "$" sign in your response.) |
Date | General Journal | Debit | Credit |
May 2 | n/r | n/r | |
n/r | n/r | ||
May 3 | n/r | n/r | |
n/r | n/r | ||
May 5 | n/r | n/r | |
n/r | n/r | ||
May 10 | n/r | n/r | |
n/r | |||
n/r | |||
May 30 | n/r | n/r | |
n/r | n/r | ||
n/r | n/r | ||
n/r | n/r |
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