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Purchase-Related Transactions Joumalize entries for the following reiated transactions of Lilly Heating & Air Company: (If an amount box does not require an entry, leave
Purchase-Related Transactions Joumalize entries for the following reiated transactions of Lilly Heating \& Air Company: (If an amount box does not require an entry, leave it blank.) a. Purchased 522,000 of merchandise from Schell Co, on account, terms 1/10,n/30. b. Paid the amount owed on the invoice within the discount period. c. Discovered that merchandise with an involce amount of $4,400 purchased in (a) was defective and returned items, recelving credit. d. Purchased $3,500 of merchandise from Schell Co. on account, terms n/30. e. Received a refund from Schell Co, for return in (c) less the purchase in (d). c. Discovered that merchandise with an invoice amount of $4,400 purchased in (a) was defective and returned items, recelv d. Purchased $3,500 of merchandise from Schell Co. on account, terms n/30. e. Recelved a refund from Schell Co. for return in (c) less the purchase in (d)
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