Amy Douglas owns a business called Douglas Distributors. The following transactions took place during January of the
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Amy Douglas owns a business called Douglas Distributors. The following transactions took place during January of the current year. Journalize the transactions in a general journal using the periodic inventory method.
Jan. 5 Purchased merchandise on account from Elite Warehouse, $4,100.
8 Paid freight charge on merchandise purchased, $300.
12 Sold merchandise on account to Memories Unlimited, $5,200.
15 Received a credit memo from Elite Warehouse for merchandise returned, $700.
22 Issued a credit memo to Memories Unlimited for merchandise returned, $400.
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DATE 20 Jan 5 Purchases GENERAL JOURNAL 8 FreightIn Cash DESCRIPTION Accoun...View the full answer
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