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2) The following transactions occurred between Belvidere Pharmaceuticals and D & S;the pharmacy chain, during July of the current year;Jul...

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2) The following transactions occurred between Belvidere Pharmaceuticals and D & S;the pharmacy chain, during July of the current year;Jul 6 D & S purchased $12,000 of merchandise from Belvidere on credit terms of 3/10;n/30, FOB shipping point. Separately, D & S paid a $200 bill for freight in. These;goods cost Belvidere $3,600.;10 D & S returned $3,000 of the merchandise purchased on July 6. Belvidere;accounted for the sales return and placed the goods back in inventory (Belvidere?s;cost, $1,200).;15 D & S paid $6,000 of the invoice amount owed to Belvidere for the July 6;purchase, less the discount.;27 D & S paid the remaining amount owed to Belvidere for the July 6 purchase.;Requirements;Journalize these transactions on the books of D & S.;Journalize these transactions on the books of Belvidere Pharmaceuticals.;2) The following transactions occurred between Belvidere Pharmaceuticals and D & S;the pharmacy chain, during July of the current year;Jul 6 D & S purchased $12,000 of merchandise from Belvidere on credit terms of 3/10;n/30, FOB shipping point. Separately, D & S paid a $200 bill for freight in. These;goods cost Belvidere $3,600.;10 D & S returned $3,000 of the merchandise purchased on July 6. Belvidere;accounted for the sales return and placed the goods back in inventory (Belvidere?s;cost, $1,200).;15 D & S paid $6,000 of the invoice amount owed to Belvidere for the July 6;purchase, less the discount.;27 D & S paid the remaining amount owed to Belvidere for the July 6 purchase.;Requirements;Journalize these transactions on the books of D & S.;Journalize these transactions on the books of Belvidere Pharmaceuticals.

 

Paper#74734 | Written in 18-Jul-2015

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