Essay
Journalize the following transactions using the periodic system:
Aug. 6 Purchased $1,030 of inventory on account from Johnston with terms of 2/10, n/30.
Aug. 8 Purchased $2,001 of inventory for cash from Pillner Company.
Aug.15 Paid for August 6 purchase from Johnston.
Aug. 17 Purchased $1,700 of merchandise on account from Luis Company with Terms of 3/15, n/45.
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