Journalize each of the following transactions assuming a perpetual inventory system. May 1 Purchased $1,200 of merchandise

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Journalize each of the following transactions assuming a perpetual inventory system.
May 1 Purchased $1,200 of merchandise inventory; terms 1/10, n/30.
14 Paid for the May 1 purchase.
15 Purchased $3,000 of merchandise inventory; terms 2/15, n/30.
30 Paid for the May 15 purchase, less the applicable discount.
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Fundamental Accounting Principles

ISBN: 978-0071051507

Volume I, 14th Canadian Edition

Authors: Larson Kermit, Tilly Jensen

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