Record journal entries for the following purchase transactions of Flower Company. Oct. 13 Oct. 20 Oct. 30
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Record journal entries for the following purchase transactions of Flower Company.
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Oct. 13 Oct. 20 Oct. 30 Purchased 85 bushels of flowers with cash for $1,300. Purchased 240 bushels of flowers for $20 per bushel on credit. Terms of the purchase are 5/10, n/30, invoice dated October 20. Paid account in full from the October 20 purchase.
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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