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Kathmandu store purchased Winter jackets on 1 January on credit for $47700 excluding 10% GST...

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Question

Accounting

Kathmandu store purchased Winter jackets on 1 January on credit for $47700 excluding 10% GST of $4770. Credit terms are 2/10, n/30, Kathmandu paid for the purchases on 9 January.

Required:

Post Kathmandus transactions to the ledger/T accounts using the following titles: purchase, accounts receivables, GST clearing, purchase discount, and bank.

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