ABC Corporation follows Perpetual inventory system. The following transactions occur in the month of August. Pass journal
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ABC Corporation follows Perpetual inventory system. The following transactions occur in the month of August. Pass journal entries for the following transactions in an appropriate format-
- Purchased 1000 units of shoes from Indiana International @ $300 each on account
- Sold 200 units to Ceridian Corporation @ $500 each on account
- Sold 500 units to Semed Inc. @ 550 each on cash
- Paid cash in full to Indiana International
- Purchased 800 units of shoes from CITS @ $450 each on cash
- Sold 100 units to Deeman Corp @ $600 each on cash
Related Book For
Principles of Financial Accounting chapters 1-17
ISBN: 978-1259687747
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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