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The Picture Perfect Camera Shop had the following transactions for the month of August 2019. Aug. 1 Purchased cameras for $3,400 plus a freight charge
The Picture Perfect Camera Shop had the following transactions for the month of August 2019. Aug. 1 Purchased cameras for $3,400 plus a freight charge of $150 from the Manon Company, Invoice 532, dated July 29, net payable in 60 days. 6 Purchased color fiim for $470 fron Digital Products, Invoice 989, dated August 4, net payable in 30 days. 10 Purchased camera case for $920 fron Raven Loathers, Invoice 668, dated August 8; terms are 2/10, n/30. 15 Returned defective cameras to Mason Company and received Credit Memorandum 205 for $530. The cameras were originally purchased on Invoice 532 of July 29. 20 Purchased cameras for $3,550 plus freight of $145 from the Bramer Cameras, Invoice 2093, dated August 18; terms are 1/10, 1/60. 23 Received Credit Memorandum 597 for $115 fron Raven Leathers. The amount to an allowance for slightly damaged but unable goods purchased on Invoice 660 of August 8. Prepare Journal entries to record the above transactions assuming the company uses the periodic inventory system to keep track of its Inventory Journal entry worksheet Received Credit Memorandum 597 for $115 from Raven Leathers. The amount is an allowance for slightly damaged but usable goods purchased on Invoice 668 of August 8. Note: Enter debits before credits. Date General Journal Debit Credit Aug 23, 2019 Record entry Clear entry View general Journal
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