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Q3. Prepare entries for James from the following transactions; 1. James purchased 10 tables @ $20 per table on account with 4/15, n/30 credit

Q3. Prepare entries for James from the following transactions; 1. James purchased 10 tables @ $20 per table on account with 4/15, n/30 credit term. 2. Paid the account payable after 10 days. 3. Sold 5 tables @$50 per table to Ali on account. 4. Ali returned 2 tables to James. 5. James received the outstanding amount from Ali.

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