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Neutron uses a periodic inventory system. Required Prepare general journal entries to record the following transactions on the books of Neutron: June 10 Neutron purchased
Neutron uses a periodic inventory system. Required Prepare general journal entries to record the following transactions on the books of Neutron: June 10 Neutron purchased merchandise on credit from Proton for $5,000, terms 2/10, n30. Fob destination. Transportation costs of $250 June 12 Neutron returned $900 of merchandise from the June 10 purchase June 19 Neutron paid proton for the June 10 purchase, less the return June 20 Neutron sold all merchandise for $6,500 on account, terms 2/10, n30. Fob destination. Transportation costs of $250
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