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Prepare Journal Entries for Sales and Purchases With Discounts Your answer is partially correct Try again Super Copy Co is an office supply store The company uses a perpetual inventory

 Prepare Journal Entries for Sales and Purchases (With Discounts)

Your answer is partially correct Try again 

Super Copy Co is an office supply store The company uses a perpetual inventory system

 

July 1Purchased four Doni copying machines on account from Doni Corp Total invoice price was $3,200 per machine ($12,800 total); terms of 2/10, n/30 These machines are intended for resale

 

3Found one of the Doni copiers to be defective and returned it to Doni, thus reducing the amount owed

 

8Paid the amount owed to Doni Corp

 

9Sold on account one of the Doni copiers to Cross Realty The sales price was $6,400, terms 6/10, n/60

 

19Received full payment from Cross

 

Record the above transactions in the company’s general journal To conserve space, omit the written explanations which normally should accompany the entries (Credit account titles are automatically indented when the amount is entered Do not indent manually)

Mar 23 2020 Read more Less More

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