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Matthew Company purchased merchandise on account from Bridgeport Office Suppliers for $219,240, with terms of...

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Accounting

Matthew Company purchased merchandise on account from Bridgeport Office Suppliers for $219,240, with terms of 210,n30. During the discount period, Matthew returned some merchandise and paid $197,568 as payment in full. Matthew uses a perpetual inventory system. Prepare the journal entries that Matthew Company made to record:
(1) the purchase of merchandise.
(2) the return of merchandise.
(3) the payment on account.
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