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urchase - related transactions using perpetual inventory system Instructions The following selected transactions were completed by Betz Company during July of the current year: July
urchaserelated transactions using perpetual inventory system
Instructions
The following selected transactions were completed by Betz Company during July of the current year:
July Purchased merchandise from Sabol Imports Co $ terms FOB destination,
Purchased merchandise from Saxon Co $ terms FOB shipping point, neom Prepaid freight of $ was added to the invoice.
Purchased merchandise from Schnee Co $ terms FOB destination, n
Issued debit memo to Schnee Co for merchandise with an invoice amount of $ returned from purchase on July
Paid Saxon Co for invoice of July
Paid Schnee Co for invoice of July less debit memo of July
Purchased merchandise from Southmont Co $ terms FOB shipping point, neom
Paid freight of $ on July purchase from Southmont Co
Purchased merchandise from Stevens Co $ terms FOB destination,
Paid Stevens Co for invoice of July
Paid Sabol Imports Co for invoice of July
Paid Southmont Co for invoice of July
Required:
Journalize the entries to record the transactions of Betz Company for July.
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