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On May 1 1 , 2 0 2 3 , Wilson Purchasing purchased $ 2 1 , 0 0 0 of merchandise from Happy Sales,
On May Wilson Purchasing purchased $ of merchandise from Happy Sales, terms n FOB Happy Sales. The cost of the goods to Happy was $ Wilson paid $ to Express Shipping Service for the delivery charges on the merchandise on May On May Wilson returned $ of goods to Happy Sales, which restored them to inventory. The returned goods had cost Happy $ On May Wilson malled a cheque to Happy for the amount owed on that date. Happy received and recorded the cheque on May Required:o Present the journal entries that Wilson Purchasing should record for these transactions. Assume that Wilson uses a perpetual Inventory systemView transaction listJournal entry worksheetRecord the purchase of merchandise on credit; terms n
On May Wilson Purchasing purchased $ of merchandise from Happy Sales, terms n FOB Happy Sales. The cost of the goods to Happy was $ Wilson paid $ to Express Shipping Service for the delivery charges on the merchandise on May On May Wilson returned $ of goods to Happy Sales, which restored them to inventory. The returned goods had cost Happy $ On May Wilson malled a cheque to Happy for the amount owed on that date. Happy received and recorded the cheque on May Required:o Present the journal entries that Wilson Purchasing should record for these transactions. Assume that Wilson uses a perpetual Inventory systemView transaction listJournal entry worksheetRecord the purchase of merchandise on credit; terms n
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