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please answer 16-19 in journal entries pleaseeeee 16. On November 10, Megan Rubber and Tire Company purchased inventory and paid $900 in cash to the

image text in transcribedplease answer 16-19 in journal entries pleaseeeee
16. On November 10, Megan Rubber and Tire Company purchased inventory and paid $900 in cash to the delivery company. 17. On December 5, Megan Rubber and Tire Company discovered that two tires had blemishes. It received an allowance for $75.00, from Louisiana Tire Sales. Assume all cash. Prepare Megan's appropriate journal entry. 18. Assume the facts in 17. Prepare the journal entry on Louisiana Tire Sales books to record the $75.00 payment to Megan. 19. On January 3, 2018, Louisiana Tire Sales Co. sold merchandise on to Thibodeaux Tire Retailers for $25,000 in cash. Louisiana Tire Sales paid $15,000 for these tires two months ago. Prepare all appropriate Journal entries pertaining to this sale (for Louisiana Tire Retailers only) Perpetual Inventory System Debit Credit $25,000 Cash Sales Revenue C.O.G.S. Merchandise Inventory $25,000 $15,000 $15,000 To record sales of Inventory to Thibodeaux and adjust cost of good sold

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