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On November 1, Runner Store had an inventory of 30 scooters at a cost of $200 each. In that month the following transactions occurred- Nov
On November 1, Runner Store had an inventory of 30 scooters at a cost of $200 each. In that month the following transactions occurred- Nov 4. Purchased 40 scooters at a cost of $200 each from Hudson Company, terms 2/10, n/30. 6 Sold 20 scooters to Zaika store for $350 each, terms 2/10, n/30. 7 Received credit from Hudson Company for the return of 2 defective scoorters. 13 Issued a credit slip to Zaika store for the return of a defective scooters. 14 Paid Hudson Company in full, less discount. Question: Prepare the journal entries under perpetual inventory system for Runner Store
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