Warwick's Co., a women's clothing store, purchased $75,000 of merchandise from a supplier on account, terms FOB

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Warwick's Co., a women's clothing store, purchased $75,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. Warwick's returned $9,000 of the merchandise, receiving a credit memo, and then paid the amount due within the discount period. Journalize Warwick's entries to record

(a) The purchase,

(b) The merchandise return, and

(c) The payment?

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Related Book For  answer-question

Financial Accounting

ISBN: 978-1305088436

14th edition

Authors: Carl S. Warren, Jim Reeve, Jonathan Duchac

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