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Name: Date: 9 Slopes Sales Company engaged in the following transactions during August 2020, the first month of the company's fiscal year. Assume the company

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Name: Date: 9 Slopes Sales Company engaged in the following transactions during August 2020, the first month of the company's fiscal year. Assume the company had no inventory on hand prior to August 3. Slope Sales Company uses a perpetual inventory system. Aug. 3 Purchased inventory costing $7,000 on credit terms of 2/10, net eom. The goods were shipped FOB Slope's warehouse. Returned 20 percent of the inventory purchased on August 3. It was defective. 12 Sold goods for cash, $6,000 (cost, $3,000). 15 Purchased inventory of $15,400, less a $400 quantity discount. Credit terms were 2/15, n/30. The goods were shipped FOB the supplier's warehouse. 16 Paid a $1,200 freight bill on the inventory purchased on August 15. Sold inventory for $9,000 on credit terms of 2/10,n/30 (cost, $4,500). 22 Received merchandise returned from the customer from the August 18 sale, $2,000 (cost, $1,000). Merchandise was the wrong size. 24 Borrowed exactly enough money from the bank to pay for the August 15 purchase in time to take advantage of the discount offered. Signed a note payable to the bank for the net amount. 24 Paid supplier for goods purchased on August 15, less all returns and discounts. 28 Received cash in full settlement of the account from the customer who purchased inventory on August 18, less the return on August 22 and less the discount. Paid the amount owed on account from the purchase of August 3, less the August 9 return Purchased inventory for cash, $4,640, less a quantity discount of $140. 18 29 30 Required: Journalize the transactions and include any calculations in the journal entry explanations. Use the general journal format below to record the transactions (add rows for the transactions), Date Account Name Debit Credit Dr. Cr. Dr. Cr

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