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On June 1 0 , Ivanhoe Company purchased $ 9 , 5 0 0 of merchandise from Bridgeport Company, FOB shipping point, terms 1 1
On June Ivanhoe Company purchased $ of merchandise from Bridgeport Company, FOB shipping point, terms Ivanhoe pays the freight costs of $ on June Damaged goods totaling $ are returned to Bridgeport for credit on June On June Ivanhoe pays Bridgeport Company in full, less the purchase discount. Both companies use a perpetual inventory system.
Prepare separate entries for each transaction on the books of I vanhoe Company. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.
Date
Account Titles and Explanation
Debit
Credit
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