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Prepare journal entries to record each of the following transactions. The company records purchases using...

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Accounting

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Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a perpetual inventory system. September 15 Purchased merchandise with an invoice price of $52,500 and credit terns of 5/5,n/15. Septenber 29 Paid supplier the anount owed on the September 15 purchase. Journal entry worksheet Purchased merchandise with an invoice price of $52,500 and credit terms of 5/5,n/15. Note: Enter debits before credits

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