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Nov. 5 Purchased 600 unlts of product at a cost of $10 per unlt. Terms of the sale are 2/10,n/60; the involce is dated November
Nov. 5 Purchased 600 unlts of product at a cost of $10 per unlt. Terms of the sale are 2/10,n/60; the involce is dated November 5 . Nov. 7 Returned 25 defectlve unlts from the November 5 purchase and recelved full credit. Nov. 15 Pald the amount due from the November 5 purchase, less the return on November 7. Prepare journal entrles to record each of the merchandising transactions assuming that the perlodic inventory system is used. Journal entry worksheet Paid the amount due from the November 5 purchase, less the return on November 7 . Note: Enter debits before credits
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