Journalize entries for the following related transactions of Lilly Heating & Air Company using the net method
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Question:
Journalize entries for the following related transactions of Lilly Heating & Air Company using the net method under a perpetual inventory system. If an amount box does not require an entry, leave it blank.
Question Content Area
a Purchased $ of merchandise from Schell Co on account . Discovered that merchandise with an invoice amount of $ purchased in a was defective and returned items, receiving crediting terms n
B Paid the amount owed on the invoice.
C Discovered that merchandise with an invoice amount of $ purchased in a was defective and returned items, receiving credit.
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