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Prepare journal entries for the following transactions: March 7: purchased inventory on account for $4,000, terms 2/10 n/30 March 9: returned $1,000 of the above
Prepare journal entries for the following transactions:March 7: purchased inventory on account for $4,000, terms 2/10 n/30 March 9: returned $1,000 of the above purchase as it was the wrong colour March 15: Paid for the March 7 purchase March 20: Sold merchandise on account for $7000. Our cost was $4500. The terms are 2/10 n/30 march 30: our customer paid us within the discount period
Prepare journal entries for the following transactions:
March 7: purchased inventory on account for $4,000, terms 2/10 n/30
March 9: returned $1,000 of the above purchase as it was the wrong colour
March 15: Paid for the March 7 purchase
March 20: Sold merchandise on account for $7000. Our cost was $4500. The terms are 2/10 n/30
march 30: our customer paid us within the discount period
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Cost Accounting An Introduction To Cost Management Systems
Authors: Philip Jagolinzer
1st Edition
0324015828, 978-0324015829
