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The accounts used for the problems 18, 19, 20 are: Cash, Merchandise Inventory, Accounts Payable 26) On January 2, 2021, Reynolds Warehouse purchases $850 of
The accounts used for the problems 18, 19, 20 are: Cash, Merchandise Inventory, Accounts Payable 26) On January 2, 2021, Reynolds Warehouse purchases $850 of inventory on credit with the terms 2/10, 1/30. Journalize the transaction for this purchase of inventory. 27) Reynolds Warehouse returns $50 of merchandise on January 5, 2021. Journalize this transaction. 28) Reynolds Warehouse pays for the purchase on January 9, 2021. Journalize this transaction. 29) 2pts. Hanford Inc. sold $1,000 of merchandise on credit to Marsdon Company on August 11, 2020. The cost of the merchandise Hanford sold was $400. Record the journal entry for Hanford (seller) for this transaction. There will be two journal entries for this transaction. (The account titles are: Merchandise Inventory, Accounts Receivable, Sales Revenue, and Cost of Goods Sold.)
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