Using the general merchandise method, make the following journal entries, adjustments, and ledger T ' s
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Question:
Using the general merchandise method, make the following journal entries, adjustments, and ledger Ts
The commercial establishment was opened with the following values:
Box
Goods
Furniture
Suppliers
Capital
Merchandise was sold for $ in cash
Merchandise was purchased for $ within days
Merchandise was sold on credit for $
Merchandise was purchased for $ which was paid by check
The purchases caused freight and transportation expenses of $ that were owed
From credit sales, merchandise worth $ was returned to us
From credit purchases we returned merchandise for $
On sales made on credit we granted discounts of $
On purchases made on credit, we were granted discounts of $
Final inventory $
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