Prepare the journal entries to record these transactions on Nimmer Companys books using a periodic inventory system.

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Prepare the journal entries to record these transactions on Nimmer Company’s books using a periodic inventory system.

(a) On March 2, Nimmer Company purchased $900,000 of merchandise from Sen Company, terms 2/10, n/30.

(b) On March 6, Nimmer Company returned $130,000 of the merchandise purchased on March 2.

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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Jan 30, 2014 01:32 AM

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Prepare the journal entries to record these transactions on Nimmer Companys books using a periodic inventory system.

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