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san4es73 [151]
3 years ago
7

Bill Blumberg owns an auto parts business called Bill's Auto Parts. The following transactions took place during July of the cur

rent year.
July 5 Purchased merchandise on account from Wheeler Warehouse, $4,300.
8 Paid freight charge on merchandise purchased, $230.
12 Sold merchandise on account to Big Time Spoiler, $3,500. The merchandise
cost $2,500.
15 Received a credit memo from Wheeler Warehouse for merchandise, $670.
22 Issued a credit memo to Big Time Spoiler for merchandise returned, $820.
The cost of the merchandise is $550.
Required:
1. Journalize the above transactions in a general journal using the periodic inventory method.
2. Journalize the above transactions in a general journal using the perpetual inventory method.
Business
1 answer:
Dmitry [639]3 years ago
8 0

Answer:

The solution to these question is defined in the attached file please find it.

Explanation:

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Answer:

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3 years ago
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3 years ago
LO 3.5If a firm has a contribution margin of $59,690 and a net income of $12,700 for the current month, what is their degree of
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4 years ago
Tom lives in an apartment where he pays $8,000 a year in rent. Sarah lives in a house that could be rented for $10,000 a year. H
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Answer:

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