Information related to Kerberos Co. is presented below 1. On April 5, purchased merchandise from Wilkes Company

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Information related to Kerberos Co. is presented below

1. On April 5, purchased merchandise from Wilkes Company for $23,000, terms 2/10, net/30, FOB shipping point.

2. On April 6, paid freight costs of $900 on merchandise purchased from Wilkes.

3. On April 7, purchased equipment on account for $26,000.

Instructions

Prepare the journal entries to record these transactions on the books of Kerberos Co. under a perpetual inventory system.

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College Accounting

ISBN: 1986

1st Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell

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Question Posted: Dec 30, 2019 05:42 AM

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Information related to Kerberos Co. is presented below 1. On April 5, purchased merchandise from Wilkes Company

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1 April 5 Inventory 23000 Accounts Payable 23000 ...View the full answer

College Accounting

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