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IV. Prepare general journal entries (1-3, 10 points each, 4, 20 points, 50points) 1. Altobelli Company began business in Chicago on March 1, 20Xo. The following are Altobelli's purchases and sales transactions: March 2 Purchased 100 units @$9 March 5 Purchased 50 units @ $12 March 15 Sold 70 units @ $15 March 21 Purchased 80 units@$12 March 26Sold 100units@$15 Prepare journal entries for each of the five days under weighted average inventory valuation method. Assuming all the transactions are made on credit. likts A oumal entry