Marshall Supplies is a janitorial supply store that uses perpetual inventory. On July 4, Marshall purchases inventory
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Question:
Marshall Supplies is a janitorial supply store that uses perpetual inventory. On July 4, Marshall purchases inventory from Tidy Wholesalers for $8,500 with terms 1/10, n/30. On July 5, Marshall pays Express Transfer $45 for freight in on the July 4 order. On July 7, Marshall buys an additional $11,985 in inventory from Tidy Wholesalers with terms 1/10, n/30. On July 13, Marshall pays Tidy Wholesalers the balance due on both invoices.
Required:
Journalize the above transactions.
Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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