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Please answer the following question. In the document attached. Sandy's Supply Store entered into the transactions listed below. In the journal provided, prepare Sandy's Supply
Please answer the following question. In the document attached.
Sandy's Supply Store entered into the transactions listed below. In the journal provided, prepare Sandy's Supply Store's entries, assuming use of the perpetual inventory system. Omit explanations. Mar. 2 Purchased $900 of merchandise on credit, terms n/30. 6 Returned $150 of the items purchased on March 2. 8 Paid freight charges of $50 on the items purchased March 2. 16 Sold merchandise on credit for $1,200, terms n/15. The merchandise had a cost in inventory of $750. 17 Of the merchandise sold on March 16, $100 of it was returned. The items had cost Sandy's $30. 25 Received payment in full from the customer of March 16. 31 Paid for the merchandise purchased on March 2Step by Step Solution
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