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Journalize the Following Inventory Transactions Using the Perpetual Inventory Method

Question 93

Essay

Journalize the following inventory transactions using the perpetual inventory method.
April 17 Purchased $4,800 of inventory, on account, terms 2/10, n/30.
April 22 Returned $750 of damaged merchandise to supplier.
April 25 Paid balance due on inventory purchase of April 17.

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