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    sulda's Avatar
    sulda Posts: 1, Reputation: 1
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    #1

    Apr 28, 2009, 08:55 AM
    Perpetual inventory method
    The company uses the perpetual inventory method, record the following events in the general journal.

    1) JAN 3. Purchase , of merchandise inventory from a supplier, Kelly Distributors, Inc. the terms of the purchase: 2/, n/ and FOB shipping point.
    2) Jan 11 paid the amount due on account to Kelly Distributors for merchandise purchased on Jan 3.
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    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Apr 29, 2009, 12:05 AM

    Please see the guidelines for posting homework problems:
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