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On June 15, K

Question 84

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On June 15, K. Finch purchased merchandise for her furniture store. The invoice was for $10,500 plus GST, $525, terms 3/10, n/30. On June 20, K. Finch returned $300 of merchandise for credit. On June 30, K. Finch paid the amount owed. Answer the following questions.
a) The debit to Inventory on June 15 is ________.
b) The credit to Accounts Payable on June 15 is ________.
c) The credit to Inventory on June 20 is ________.
d) The credit to Cash on June 30 is ________.
e) The credit to Inventory on June 30 is ________.

Correct Answer:

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a) $10,500...

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