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Make the general journal entries to record transactions

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Question - The following transactions occurred during the month of October for Bella Boutique.

Oct. 1 Sold merchandise on credit for $2,000, terms 2/10, n/30. The items sold had a cost of $1,500.

Oct. 3 Purchased merchandise for cash, $720.

Oct. 4 Purchased merchandise on credit for $1,600, terms 3/20, n/30.

Oct. 5 Issued a credit memorandum for $1,000 to a customer who returned merchandise purchased July 20. The returned items had a cost of $510.

Oct. 10 Received payment for merchandise sold October 1.

Oct. 15 Received a credit memorandum from the seller for the return of faulty merchandise purchased on October 4 for $600.

Oct. 18 Paid freight charges of $200 for merchandise ordered last month. (FOB shipping point)

Oct. 23 Paid for the merchandise purchased October 4 less the portion that was returned.

Required - Make the general journal entries to record these transactions.

Reference no: EM132715029

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