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Prepare the journal entries to record these transactions on Sandhill Company's books using a periodic inventory system. (If no entry is required, select No
Prepare the journal entries to record these transactions on Sandhill Company's books using a periodic inventory system. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) (a) On March 2, Sandhill Company purchased $903,000 of merchandise from Teal Mountain Company, terms 3/10, n/30. (b) On March 6, Sandhill Company returned $119,300 of the merchandise purchased on March 2. (c) On March 12, Sandhill Company paid the balance due to Teal Mountain Company. No. Date Account Titles and Explanation (a) March 2 (b) March 6 (c) March 12 Debit Credit
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