Journalize the following transactions. Assume the perpetual inventory system. 202X May 9 Sold merchandise for $900 cash.
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Journalize the following transactions. Assume the perpetual inventory system.
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202X May 9 Sold merchandise for $900 cash. The cost of merchandise was $600. 9 Purchased merchandise from Aster Co. on account, $3,000, F.O.B. shipping point (buyer pays freight); terms 3/10, n/30. Freight to be paid on May 20. Paid freight on May 9 purchase, $90. 20
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College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
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