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Q2. Tattle Company engaged in the following transactions in October 20XX. Oct. 7 Sold merchandise on credit to Lina Ortiz, $6,000 (cost, $3,600). Oct. 8
Q2. Tattle Company engaged in the following transactions in October 20XX. Oct. 7 Sold merchandise on credit to Lina Ortiz, $6,000 (cost, $3,600). Oct. 8 Purchased merchandise on credit from Ruff Company, $12,000. Oct. 9 Paid Curry Company for shipping charges on merchandise purchased on October 8, $508. Oct. 10 Purchased merchandise on credit from Sewall Company, $19,200 including $1,200 freight costs paid by Sewall. Oct. 13 Purchased office supplies on credit from Door Company, $4,800. Oct. 14 Sold merchandise on credit to Peter Watts, $4,800 (cost, $2,880). Oct. 14 Returned damaged merchandise received from Ruff Company on October 8 for credit, $1,200. Oct. 17 Received check from Lina Ortiz for her purchase of October 7. Oct. 18 Returned a portion of the office supplies received on October 13 for credit because the wrong items were sent, $800. Oct. 19 Sold merchandise for cash, $3,600 (cost, $2,160). Oct. 20 Paid Sewall Company for purchase of October 10. Oct. 21 Paid Ruff Company the balance from the transactions of October 8 and October 14. Oct. 24 Accepted from Peter Watts a return of merchandise, which was put back in inventory, $400 (cost, $240). Prepare entries in journal form to record the transactions assuming both periodic and perpetual inventory systems
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