Lee Company sold merchandise on account to Peart Company for $16,000 on June 3, 2009, with terms
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Lee Company sold merchandise on account to Peart Company for $16,000 on June 3, 2009, with terms 2/10, n/30. On June 7, 2009, Lee Company received $650 of returned merchandise from Peart Company and issued a credit memorandum for the appropriate amount. Lee Company received payment for the balance of the bill on June 21, 2009. Record the necessary journal entries for Lee Company on June 3, June 7, and June 21.
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3 June Accounts receivable Peart Company 16000 Sales 16000 7 June Sa...View the full answer
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Related Book For 
Financial Accounting
ISBN: 978-0324645576
10th edition
Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice
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