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Smith's Scooter Company had the following transactions during the month of July: Jul 2-Purchased merchandise in the amount of $12,300 from Brownie's Company-terms were 3/10,
Smith's Scooter Company had the following transactions during the month of July: Jul 2-Purchased merchandise in the amount of $12,300 from Brownie's Company-terms were 3/10, n/30. Jul 7-Returmed $500 worth of damaged merchandise from the July 2d purchase. Brownie's Company gave a $500 reduction for this return. Jul 8- Purchased office equipment in the amount of $3800 Jul 10- Paid the freight costs of $330 from the July 2" purchase Jul 11-Paid for the purchases from the Brownie's company- the July 2"d purchases Required: a) Prepare the journal entries for the the Smiths Scooters Company for the above transactions. b) Assume that we paid Brownie's company on July 31 instead of July 11. What would the jourmal entry have been for this payment on July 31
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