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Author Question: Scout Company purchases goods for resale from Shakes, Inc. The amount of the purchase is $10,500 ... (Read 146 times)

kaid0807

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on: Feb 18, 2020
Scout Company purchases goods for resale from Shakes, Inc. The amount of the purchase is $10,500 with terms of 3/10, n/30. Scout later returns $500 of the goods. Under the perpetual inventory system, the journal entry to record the return is:
◦ debit Purchase Returns and Allowances; credit Accounts Payable - Shakes, Inc.
◦ debit Inventory; credit Accounts Payable - Shakes, Inc.
◦ debit Accounts Payable - Shakes, Inc.; credit Inventory.
◦ debit Accounts Payable - Shakes, Inc.; credit Purchase Returns and Allowances.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by kaid0807 on Feb 18, 2020

janieazgirl

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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lisasenin

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Reply #2 on: Nov 13, 2022
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