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Need some help with this question along with some brief step by step. thanks Bushard Company (buyer) and Schmidt, Inc. (seller) engaged in the following
Need some help with this question along with some brief step by step. thanks
Bushard Company (buyer) and Schmidt, Inc. (seller) engaged in the following transactions during February 2019: Bushard Company DATE 2a19 Feb. la 13 19 TRANSACTIONS Purchased merchandise for $3,e from Schmidt, Inc. , 1/10, n/3e. Received Credit Memorandum 230 from Schmidt, Invoice 198e, terms for damaged Inc., merchandise totaling $2e that was returned; the goods were purchased on Invoice 1980, dated February 10. Paid amount due to Schmidt, Inc., for Invoice 1980 of February I, less the return of February 13 and less the cash discount, Check 2013. Schmidt, Inc. DATE 2a19 Feb. la 13 19 TRANSACTIONS Sold merchandise for $3, aaa on account to Sushard Company, Irwoice 1980, terms 1/10, n,'3. Issued Credit memorandum 230 to Bushard Company for damaged merchandise totaling $200 that was returned; the goods were purchased on Invoice 1980, dated February 10. Received payment from Bushard Company for Invoice 1980 of February 10, less the return of Februatmy 13 end less the cash discount, Check 2010. Journalize the transactions above in a general journal for both Bushard Company and Schmidt, Inc.
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