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Record the following transactions in the general journal. The company uses perpetual inventory. Eliminate explanations. When completed, upload your file using pdf or doc only
Record the following transactions in the general journal. The company uses perpetual inventory. Eliminate explanations. When completed, upload your file using pdf or doc only to this problem.
Nov
Purchased merchandise for $ on credit with terms of FOB shipping point; invoice dated November
Returned $ of defective merchandise purchased on November
Paid cash for the November purchase.
Paid $ cash for transportation cost from the November purchase.
Sold merchandise for $ on credit. The cost of the merchandise is $
Granted credit to customer from November transaction. The returned
items are priced at $ and the cost is $; the items were not damaged and were returned to inventory.
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