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Prepare seperare entries for each transaction on the books of Sunland Company. On June 10, Sunland Company purchased $8,150 of merchandise on account from Grouper
Prepare seperare entries for each transaction on the books of Sunland Company.
On June 10, Sunland Company purchased $8,150 of merchandise on account from Grouper Company, FOB shipping point, terms 3/10, n/30. Sunland Company pays the freight costs of $420 on June 11 . Goods totaling $650 are returned to Grouper for credit on June 12 On June 19, Sunland Company pays Grouper Company in full, less the purchase discount. Both companies use a perpetual imentory system. (a) Prepare separate entries for each transaction on the books of 5 unland Company. (Credit account tities are automaticaily indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry' for the account titles and enter Ofor the amounts. Record journal entries in the onder presented in the Step by Step Solution
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