Johnson Company purchased (on account) 250 tables to be resold to customers. The cost of each table

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Johnson Company purchased (on account) 250 tables to be resold to customers. The cost of each table was $150. Make the journal entry to record this transaction under
(1) A perpetual inventory system and
(2) A periodic inventory system.

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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