Return a Purchase for Credit and Pay Bills In this exercise, you will return some...
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Accounting
Return a Purchase for Credit and Pay Bills
In this exercise, you will return some products for a credit and then apply the credit when paying.
On 18/09/2026, record a supplier credit for the return of 10 Foil Balloons to the Special Events Superstore. (The quality was not as good as Melanie had hoped.) On 24/09/2026, pay all the bills due on or before 22/09/2026; to print later. Save and print all cheques, starting with cheque #10032. On 25/09/2026, you deposit all cash and cheques. Deposit amount is $646.93. The credit card payment from the 16th is deposited into the bank on the same day but as a separate transaction. Create a Sales by Product/Service Summary for 01/09/202618/09/2026; export it to Excel, saving the file in your Chapter 08 folder as: CH08 Sales by Product and Service Summary The Gross Margin report columns display the profit of each inventory product in dollars and percentage.
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