Beautiful Jewelers had the following purchase transactions. Journalize all necessary transactions. Explanations are not required. Jun. 20
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Beautiful Jewelers had the following purchase transactions. Journalize all necessary transactions. Explanations are not required.
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Jun. 20 20 Jul. 4 14 16 18 24 Purchased inventory of $5,400 on account from Lucky Diamonds, a jewelry importer. Terms were 3/15, n/45, FOB shipping point. Paid freight charges, $300. Returned $900 of inventory to Lucky Diamonds. Paid Lucky Diamonds, less return. Purchased inventory of $3,800 on account from Johannesburg Diamonds, a jewelry importer. Terms were 3/10, n/EOM, FOB destination. Received a $800 allowance from Johannesburg Diamonds for damaged but usable goods. Paid Johannesburg Diamonds, less allowance and discount.
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Related Book For
Horngrens Financial And Managerial Accounting The Financial Chapters
ISBN: 9780137858651
8th Edition
Authors: Tracie Miller Nobles, Brenda Mattison
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