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Prepare journal entries to record the preceding transactions

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Reference no: EM132806178

Question - Donnas Beauty Salon had the following transactions for July 9 Purchased 625 units of inventory at $6 per unit. The seller offered a cash discount of 2/10, n/30.

July 10 Returned 30 defective units and received full credit.

July 18 Paid the amount in full, less the returned items.

Required - Prepare journal entries to record each of the preceding transactions. Assume a perpetual inventory system.

Reference no: EM132806178

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