Canary Lawnmowers purchased 300 lawnmower parts at $3.50 per part from a supplier on December 4. Terms
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Canary Lawnmowers purchased 300 lawnmower parts at $3.50 per part from a supplier on December 4. Terms of the purchase are 4/10, n/25, invoice dated December 4. Canary Lawnmowers pays their account in full on December 16. On December 21, Canary discovers 34 of the parts are the wrong size, but decides to keep them after the supplier gives Canary an allowance of $1.00 per part. Record the journal entries to recognize these transactions for Canary Lawnmowers.
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781947172685
1st Edition
Authors: Patty Graybeal, Mitchell Franklin, Dixon Cooper
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