Record the following transactions of Beach Bikes in a general journal: DATE 20X1 April 1 2 4
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Record the following transactions of Beach Bikes in a general journal:
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DATE 20X1 April 1 2 4 7 30 TRANSACTIONS Purchased merchandise for cash, $2,510. Returned merchandise for cash purchased on April 1; received a cash refund of $318. Purchased merchandise on credit from Brady Distributors, Invoice 125, $875, terms n/30; freight of $25 prepaid by Brady Distributors and added to the invoice. Returned damaged merchandise purchased on April 4 from Brady Distributors; received Credit Memorandum 202 for $50. Paid the amount due to Brady Distributors for the purchase of April 4, less the return on April 7, Check 1458.
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DATE ACCOUNTS AND EXPLANATIONS DEBIT CREDIT April 1 Merchandise Inventory 2510 Cash 2510 2 Cash 318 ...View the full answer
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Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
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