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Question 4 of 10 - 1 !!! Novak Ltd. had beginning inventory of 51 units that cost $100 each. During September, the company purchased 208
Question 4 of 10 - 1 !!! Novak Ltd. had beginning inventory of 51 units that cost $100 each. During September, the company purchased 208 units on account at $100 each, returned 7 units for credit, and sold 157 units at $201 each on account. Journalize the September transactions, assuming that Novak Ltd. uses a perpetual inventory system. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit I (To record purchase on account) (To record purchase return) (To record sales on account) (To record cost of goods sold)
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