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Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
Edition 22ISBN: 978-0077862275 Exercise 35
On September 15, Krug Company purchased merchandise inventory from Makarov with an invoice price of $35,000 and credit terms of 2/10, n/30. Krug Company paid Makarov on September 28. Prepare any required journal entry(ies) for Krug Company (the purchaser) on: ( a ) September 15, and ( b ) September 28. Assume Krug uses the perpetual inventory method.
Explanation
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Under Perpetual Inventory System, invent...
Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta
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