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Prepare journal entries for each of the following transactions. Assume a perpetual merchandise inventory system. October 6: Purchased 650 units of merchandise inventory at $5

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Prepare journal entries for each of the following transactions. Assume a perpetual merchandise inventory system. October 6: Purchased 650 units of merchandise inventory at $5 per unit. The seller offered a cash discount of 2/10, n/30. October 8: Returned 25 defective units and received full credit. October 10: Paid the amount in full, less the returned items

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