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Prepare the journal entries to record these transactions on Sunland Company's books using a periodic inventory system. (If no entry is required, select No Entry
Prepare the journal entries to record these transactions on Sunland Company's books using a periodic inventory system. (If no entry is required, select "No Entry" for the account titles and enter 0 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, Sunland Company purchased $901,000 of merchandise from Blossom Company, terms 3/10, n/30. (b) On March 6, Sunland Company returned $101, 300 of the merchandise purchased on March 2. (c) On March 12, Sunland Company paid the balance due to Blossom Company
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