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Purchase-Related Transactions Warwicks Co., a women's clothing store, purchased $20,000 of merchandise from a supplier on account, terms FOB destination, 1/10, n/30. Warwicks returned $3,200
Purchase-Related Transactions
Warwicks Co., a women's clothing store, purchased $20,000 of merchandise from a supplier on account, terms FOB destination, 1/10, n/30. Warwicks returned $3,200 of the merchandise, receiving a credit memo, and then paid the amount due within the discount period.
a. Journalize Warwicks Co.'s entry to record the purchase.
b. Journalize Warwicks Co.'s entry to record the merchandise return.
c. Journalize Warwicks Co.'s entry to record the payment.
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