Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 16 Aug 2017 My Price 5.00

Strauss Shipping Company

purchases of Merchandise: perpetual Inventory system

se6. Record each of the following transactions using T accounts, assuming the perpetual inventory system is used:

Aug.   2     Purchased merchandise on credit from Vera Company, invoice dated August 1, terms n/10, FOB shipping point,  $1,150.

3     Received bill from Strauss Shipping Company for transportation costs on August 2 shipment, invoice dated August 1, terms n/30, $105.

7     Returned damaged merchandise received from Vera on August 2 for credit,

$180.

10      Paid in full the amount due to Vera for the purchase of August 2, part   of which was returned on August 7.

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Maurice Tutor
(5)
Status NEW Posted 16 Aug 2017 10:08 PM My Price 5.00

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