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Travis company purchased Merchandise on account from a supplier for 11,900, terms 2/10, net 30. Travis returned 1,800 of the merchandise and received full credit.
Travis company purchased Merchandise on account from a supplier for 11,900, terms 2/10, net 30. Travis returned 1,800 of the merchandise and received full credit. Travis Company paid for the merchandise within the discount period.
Under a perpetual inventory system, record the journal entries required for (a) the purchase, (b) the return and (c) the payment. for a compound transaction, if an amount box does not require an entry, leave it blank or enter "0"
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