Blue Spruce Limited, a private company following ASPE, uses a perpetual inventory systemOn July 1, Blue purchased
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Blue Spruce Limited, a private company following ASPE, uses a perpetual inventory systemOn July 1, Blue purchased $62,000 of inventory, terms 2/10, n/30, FOB shipping point. Blue paid freight costs of $1,200. On July 3, Blue returned damaged goods and received credit of $6,000. On July 10, Blue paid for the goods. Prepare all necessary journal entries for Blue.
Related Book For
Intermediate Accounting
ISBN: 978-1118147290
15th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield
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