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Prepare journal entries for April, 2014 to record the following transactions for Zcom Inc Assume a perpetual inventory system. Enter the transaction letter as
Prepare journal entries for April, 2014 to record the following transactions for Zcom Inc Assume a perpetual inventory system. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). a. April 3: Zcom Inc. purchased merchandise on credit from XYZ Corporation, terms 2/15, n/60, $7,000, FOB destination. b. April 15: Zcom Inc. purchased equipment by paying $7,300. c. April 18: Zcom Inc. purchased merchandise on credit from Courtland Corp., terms 2/10, n/60, $5,000, FOB destination. d. April 19: After negotiations with XYZ Corporation concerning problems with the merchandise purchased on April 3, received a credit memorandum granting a price reduction of $1,100. e. April 26: Paid XYZ Corporation the amount due from the April 3 purchase. f. April 30: Paid the balance due to Courtland Corp. Please use the '+' and '-' buttons to change the number of accounts (if necessary) for each journal entry. Date General Journal Account/Explanation Page GJ8 F Debit Credit FI T H + + +
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