On March 1, Warwicks Co., a womens clothing store, purchased $75,000 of merchandise from a...
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Accounting
On March 1, Warwicks Co., a womens clothing store, purchased $75,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. On March 5, Warwicks returned $9,000 of the merchandise, receiving a credit memo, and then paid the amount due on March 9, within the discount period. Journalize Warwicks entries to record (a) the purchase, (b) the merchandise return, and (c) the payment. Refer to the Chart of Accounts for exact wording of account titles
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