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Company purchased 3. Agee Company purchased $420,000...

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Accounting

Company purchased
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3. Agee Company purchased $420,000 in merchandise on account during the month of April, and merchandise costing $350,000 was sold on account for $425,000 Prepare journal entries to record the purchases and sales assuming Agee uses a perpetual inventory system. a. b. Prepare journal entries to record the purchases and sales assuming Agee uses a periodic inventory system

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