Dawson Enterprises uses the perpetual system to record inventory transactions. In a recent month, Dawson engaged in
Question:
a. On April 1, Dawson purchased merchandise on credit for $25,150 with terms 2/10, n/30.
b. On April 2, Dawson purchased merchandise on credit for $28,200 with terms 3/15, n/25.
c. On April 9, Dawson paid for the purchase made on April 1.
d. On April 25, Dawson paid for the merchandise purchased on April 2.
Required:
Prepare journal entries for these four transactions.
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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