Journalize entries for the following related transactions of South Coast Heating & Air Company. Refer...
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Journalize entries for the following related transactions of South Coast Heating & Air Company. Refer to the Chart of Accounts for exact wording of account titles. Mar. 1 Purchased $48,000 of merchandise from Atlas Co. on account, terms 1/10, n/30. 9 Paid the amount owed on the invoice within the discount period. 11 Discovered that $7,500 of the merchandise purchases on Mar. 1 was defective and returned items, receiving credit. 18 Purchased $6,000 of merchandise from Atlas Co. on account, terms n/30. 20 Received a refund from Atlas Co. for return on Mar. 11 less the purchase on Mar. 18.
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