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ACC - Prepare entries in journal form

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solution


Question

Question;Prepare entries in journal form without explanations for the merchandising transactions listed below for Kona Company. Assume use of the periodic inventory system.July 1 Sold merchandise to Tubman Company for $2,000, terms n/15July 2 Purchased merchandise from Apple Company for $8,000, terms n/15July 3 Gave credit to Tubman Company for merchandise returned, $200July 5 Purchased merchandise from Middleton Company for $10,000, terms n/30July 10 Received payment from Tubman Company for purchase of July 1July 11 Returned $1,000 in merchandise to Middleton Company for creditJuly 13 Paid Apple Company in full for purchase July 2July 14 Paid Middleton Company in Full for Purchase of July 5

 

Paper#43196 | Written in 18-Jul-2015

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