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Review for Final Merchandisng entries

# Review for Final Merchandisng entries - Purchase on March...

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Click to edit Master subtitle style 12/10/10 Review for Final Merchandising Journal Entries

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12/10/10 Recording Purchases Quick Study Problem 1. Purchased 600 units for 10 dollars a unit The terms are 2/10 net 30. The purchase date is March 5th. 2. Return 25 defective units for full credit on March 8th 3. Paid the amount due from the Purchase on March 15th
12/10/10 Answer Quick Study 5-1 (10 minutes) Mar. 5 Merchandise Inventory 6,000 Accounts Payable 6,000 To record credit purchase [(600 x

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12/10/10 Recording Purchases Quick Study Problem 1. Purchased 600 units for 10 dollars a unit The terms are 2/10 net 30. The purchase date is March 5th. 2. Return 25 defective units for full credit on March 8th 3. Paid the amount due from the

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Unformatted text preview: Purchase on March 15th 12/10/10 Answer • Quick Study 5-1 (10 minutes) • • Mar. 5 Merchandise Inventory 6,000 • Accounts Payable 6,000 • To record credit purchase [(600 x 12/10/10 Recording Purchases Quick Study Problem 1. Purchased 600 units for 10 dollars a unit The terms are 2/10 net 30. The purchase date is March 5th. 2. Return 25 defective units for full credit on March 8th 3. Paid the amount due from the Purchase on March 15th 12/10/10 Answer • Quick Study 5-1 (10 minutes) • • Mar. 5 Merchandise Inventory 6,000 • Accounts Payable 6,000 • To record credit purchase [(600 x 12/10/10 Pass Phrase • Listen for the pass phrase and write it down for extra credit...
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Review for Final Merchandisng entries - Purchase on March...

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