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Prepare the journal entries to record the following purchase transactions in Blue Spruce Inc's books. Blue Spruce uses a perpetual inventory system. (List all debit
Prepare the journal entries to record the following purchase transactions in Blue Spruce Inc's books. Blue Spruce uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Jan. 2 5 6 11 Blue Spruce purchased goods for $52,200 from Fundy Corp., terms n/45, FOB destination. The appropriate company paid freight costs of $1,080. Blue Spruce returned $6,960 of the goods purchased on January 2, because they were not needed. Blue Spruce paid the balance owed to Fundy. Date Debit Credit Account Titles and Explanation Inventory Jan. 2 52200 Accounts Payable 52200 Jan. 5 Jan. 6 Jan 11
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