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Problem 6-6B Record transactions using a perpetual system, prepare a partial income statement, and adjust for the lower of cost and net realizable value(LO6-2, 6-3,
Problem 6-6B Record transactions using a perpetual system, prepare a partial income statement, and adjust for the lower of cost and net realizable value(LO6-2, 6-3, 6-4, 6-5, 6-6)
Journal entry workSneel Record payment of cash for freight charges related to the November 2 purchase, $180. Note: Enter debits before credits. General Journal Debit Credit Date November 03 Record return of 30 defective units from the November 2 purchase and receive credit. Note: Enter debits before credits. General Journal Debit Credit Date November 09 1 2 3 4 5 6 7 8 9 10 > Record payment to Toad Inc. in full. Note: Enter debits before credits. General Journal Debit Credit Date November 11 Juumai entry worksheet Record the sale of 100 units of inventory to customers on account, $12,800. Note: Enter debits before credits. General Journal Debit Credit Date November 16 Journai entry worksheet Record the cost of inventory sold. Note: Enter debits before credits. General Journal Debit Credit Date November 16 JUUillal LIILI YWUI KSIIeel Record receipt of full payment from customers related to the sale on November 16. Note: Enter debits before credits. General Journal Debit Credit Date November 20 Journai encry worksheet Record purchase of 58 units of inventory from Toad Inc. for $105 per unit, terms 1/10, n/30. Note: Enter debits before credits. General Journal Debit Credit Date November 21
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