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Record the following transactions using the perpetual inventory method and the net method for purchase and sales discounts On April 1, Company A purchased $2,000
Record the following transactions using the perpetual inventory method and the net method for purchase and sales discounts
On April 1, Company A purchased $2,000 merchandise on account, terms 2/15, n/45.
On April 8, Company A returned $200 worth of merchandise and received full credit.
On April 28, Company A paid the balance due on the above merchandise.
On May 1, Company A sold $800 of merchandise to a customer on account, terms 3/10,net/30. The cost of the merchandise sold was $250.
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