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Prepare journals entries for the following, assuming the company uses a perpetual inventory method and records purchases at their net amounts. June 1- Purchased merchandise

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Prepare journals entries for the following, assuming the company uses a perpetual inventory method and records purchases at their net amounts. June 1- Purchased merchandise from Martin Company for $900 with the terms of 2/10, n/30 June 2- Sold all of the merchandise from Martin Company for $1, 060. (Ignore sales tax) June 6 - Paid the amount owed to the Martin Company in full (within the discount period). 6/1 6/2 6/6

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