The JAB Company uses the perpetual inventory system with a subsidiary ledger for inventory. Journalize and post

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The JAB Company uses the perpetual inventory system with a subsidiary ledger for inventory. Journalize and post the preceding transactions (exercise 15B-2) using a two-column journal and T accounts.

In Exercise 15B-2

201X

Nov. 5 Purchased 13 units at a cost of $10 each. (Inventory on hand prior to this purchase was zero units.)

6 Sold 2 units for $16.00 each.

7 Sold 10 units for $15.80.

10 Purchased 19 additional units at a cost of $10 each.

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College Accounting A Practical Approach

ISBN: 978-0133133233

12th edition

Authors: Jeffrey Slater

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Question Posted: Apr 24, 2014 10:13 AM

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The JAB Company uses the perpetual inventory system with a subsidiary ledger for inventory. Journalize and post

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Date 201X Account Titles and Description PR Dr Cr Nov 5 Merchandise Inventory 114 1...View the full answer

College Accounting A Practical Approach

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