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Prepare journal entries to record the transactions using both the Perpetual and Periodic Method. 1-Oct Purchased merchandise amounting to Php 25,000 from Ostan Corp. with

Prepare journal entries to record the transactions using both the Perpetual and Periodic Method.

1-Oct Purchased merchandise amounting to Php 25,000 from Ostan Corp. with terms 3/5, 2/10, n/30. Transportation cost is Php 1,500, FOB Shipping point.

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