1. 2. Record journal entries for the following transactions for Captain Harry Outfitters using the...
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1. 2. Record journal entries for the following transactions for Captain Harry Outfitters using the perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Captain Harry Outfitters returned 3 damaged tents for $300. The purchase was on account Captain Harry Outfitters received an allowance of $100 for 5 hats that were the wrong color. The purchase was on account. Captain Harry Outfitters returned 25 rain ponchos for $50. Captain Harry Outfitters paid cash. Captain Harry Outfitters paid the balance due ontents that were originally purchased for $10,000. The credit terms were 2/10, 1/30, and the payment was made within the discount period. Captain Harry Outfitters paid for the balance due on hats that were originally purchased for $1.000. The credit terms were 1/10, 1/30, and the payment was not made within the discount period. 3. 4. 5. Debit Credit No. Account Titles and Explanation 1. Accounts Payable 300 Inventory 300 2. 3. 4. 5
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