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W.J. Company uses the gross method of recording purchases of merchandise. It also uses the perpetual inventory system Transaction: On July 1, w.J. Co. purchased
W.J. Company uses the gross method of recording purchases of merchandise. It also uses the perpetual inventory system Transaction: On July 1, w.J. Co. purchased goods on account from Cellar Company, $7,000. Required: (a) Select the appropriate special journal in which the transaction should be entered (b) Enter the transaction in that journal. O Purchases Journal O Cash Payments Journal O General Journal
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