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Selected Item Attempt Preview Preview In Window Small Preview Purchase-Related Transactions Warwick's Co., a women's...

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Accounting

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Selected Item Attempt Preview Preview In Window Small Preview Purchase-Related Transactions Warwick's Co., a women's clothing store, purchased $20,000 of merchandise from a supplier on account, terms FOB destination, 1/10, 1/30. Warwick's returned $3,400 of the merchandise, receiving a credit memo, and then paid the amount due within the discount period. a. Journalize Warwick's Co.'s entry to record the purchase. Merchandise Inventory 20,000 Accounts Payable 20,000 X b. Journalize Warwick's Co's entry to record the merchandise return Accounts Payable 3,400 Merchandise Inventory 3,400 c. Journalize Warwick's Co.'s entry to record the payment. Accounts Payable V 16.00 Cash 16,600X Gone

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