Abe's Printing Supply Company uses a perpetual inventory system. The company had the following transactions...
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Abe's Printing Supply Company uses a perpetual inventory system. The company had the following transactions during August 2019: Aug. 5: Purchased $2,900 of merchandise on account. Freight and credit terms were FOB shipping point, 3/15,n/60. Aug. 9: Paid transportation costs of $440 for the Aug. 5 purchase. Aug. 10: Returned $600 of defective merchandise that had been purchased on Aug. 5. Aug. 15: Paid for the merchandise purchased on Aug. 5. Prepare journal entries for August 5,9,10, and 15. Omit explanations
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