5 O oints eBook Ac CO Hint Print References 10 Homework Assignment i raw Following are the...
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5 O oints eBook Ac CO Hint Print References 10 Homework Assignment i raw Following are the merchandising transactions of Dollar Store. November 1 Dollar Store purchases merchandise for $1,100 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. View transaction list November 5 Dollar Store pays cash for the November 1 purchase. November 7 Dollar Store discovers and returns $100 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund. November 10 Dollar Store pays $55 cash for transportation costs for the November 1 purchase. November 13 Dollar Store sells merchandise for $1,188 with terms n/30. The cost of the merchandise is $594. November 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $295 and cost $148; the items were not damaged and were returned to inventory. Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method. Journal entry worksheet 1 2 3 Date November 01 Note: Enter debits before credits. 4 5 6 General Journal Saved 7 Dollar Store purchases merchandise for $1,100 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. 8 Prev Debit 5 of 5 Help Credit --- Save & Exit Subr Next Check my work
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