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Prepare Journal Entries for the following transactions assuming the Perpetual Inventory Method is used. Mar. 1 Purchased Merchandise for $90,000, terms: 1/10, n/30. F.O.B. Shipping

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Prepare Journal Entries for the following transactions assuming the Perpetual Inventory Method is used. Mar. 1 Purchased Merchandise for $90,000, terms: 1/10, n/30. F.O.B. Shipping Point. Mar. 2 $2,000 was paid for the freight of the March 1, merchandise, Mar. 6 Paid for Merchandise Purchased March 1

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