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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Record the following transactions for Sparky's Pet Shop using the general journal form provided below. Assume Sparky's uses a perpetual inventory system omit transaction descriptions from entries: August 1 Purchased $6,000 of merchandise on account, terms 2/10, n/30, 3 Returned $1, 500 of merchandise purchased on August 1 due to defects. 7 Recorded cash for the first week of August, $9, 750;cost of the merchandise $4,000 10 Made sale on account to a local breeder for $500, terms 1/10 net 30; cost of the merchandise was $200. 20 Received payment from sale of August 10.
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