Question

Journalize the following transactions, using (1) the perpetual system and (2) the periodic inventory system, for the Jazz Man music store.
a. Purchased $8,700 of merchandise on account, terms 2/10, n/30, FOB ship-ping point.
b. Paid $175 to the freight company for the delivery of the merchandise purchased.
c. Paid for the inventory purchased in Part a within the discount period.


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  • CreatedJuly 08, 2015
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