During the months of January and February, Axe Corporation purchased goods from three suppliers. The...
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Accounting
| During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows: |
| Jan. 6 | Purchased goods for $1,300 from Green with terms 3/10, n/30. |
| 6 | Purchased goods from Munoz for $1,000 with terms 3/10, n/30. |
| 14 | Paid Green in full. |
| Feb. 2 | Paid Munoz in full. |
| 28 | Purchased goods for $400 from Reynolds with terms 3/10, n/45. |
| Required: |
| Prepare journal entries to record the transactions, assuming Axe uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) |
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