Question: Journalize the following transactions Assume a perpetual inventory system 201X

Journalize the following transactions. Assume a perpetual inventory system.
201X
Apr. 8 Purchased merchandise on account from Young Supplies, $20,000; terms 4/10, n/30.
15 Sold merchandise on account, $4,000; terms 4/10, n/30. The cost of merchandise was $2,500.
20 Received credit from Young Supplies for merchandise returned, $200.


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  • CreatedApril 24, 2014
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