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Shown below are purchase and sales transactions for EZ, Inc., occurri.pdf

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Shown below are purchase and sales transactions for EZ, Inc., occurring during the months of June and July. A. Required: Prepare joumal entries for the following transactions assuming the company uses a perpetual inventory method and records purchases using the net method. No joumal entry descriptions necessary! June2June6June18PurchasedmerchandisefromStarrCompanyfor$50,000withtheterms3/10,n/30.R eturnedS900ofthemerchandisetoStarCompanyPaidtheamountowedtoStarCompany. Prepare the joumal entry reflecting the payment to Starr Company assuming that the company made the payment on June 11 instead of June 18 (i.e. they DW pay within the discount period). Required: Prepare joumal entries for the following transactions assuming the company uses a perpetual aventory method and records purchases using the gross method. No joumal entry descriptions necessary! June 2 Purchased merchandise from Starr Company for $50,000 with the terms 3/10,n/30. June 6 Returned 5900 of the merchandise to Star Company June 18 Paid the amount owed to Starr Company..

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Shown below are purchase and sales transactions for EZ, Inc., occurring during the months of June and July. A. Required: Prepare joumal entries for the following transactions assuming the company uses a perpetual inventory method and records purchases using the net method. No joumal entry descriptions necessary! June2June6June18PurchasedmerchandisefromStarrCompanyfor$50,000withtheterms3/10,n/30.R eturnedS900ofthemerchandisetoStarCompanyPaidtheamountowedtoStarCompany. Prepare the joumal entry reflecting the payment to Starr Company assuming that the company made the payment on June 11 instead of June 18 (i.e. they DW pay within the discount period). Required: Prepare joumal entries for the following transactions assuming the company uses a perpetual aventory method and records purchases using the gross method. No joumal entry descriptions necessary! June 2 Purchased merchandise from Starr Company for $50,000 with the terms 3/10,n/30. June 6 Returned 5900 of the merchandise to Star Company June 18 Paid the amount owed to Starr Company.

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Shown below are purchase and sales transactions for EZ, Inc., occurri.pdf

  • 1. Shown below are purchase and sales transactions for EZ, Inc., occurring during the months of June and July. A. Required: Prepare joumal entries for the following transactions assuming the company uses a perpetual inventory method and records purchases using the net method. No joumal entry descriptions necessary! June2June6June18PurchasedmerchandisefromStarrCompanyfor$50,000withtheterms3/10,n/30.R eturnedS900ofthemerchandisetoStarCompanyPaidtheamountowedtoStarCompany. Prepare the joumal entry reflecting the payment to Starr Company assuming that the company made the payment on June 11 instead of June 18 (i.e. they DW pay within the discount period). Required: Prepare joumal entries for the following transactions assuming the company uses a perpetual aventory method and records purchases using the gross method. No joumal entry descriptions necessary! June 2 Purchased merchandise from Starr Company for $50,000 with the terms 3/10,n/30. June 6 Returned 5900 of the merchandise to Star Company June 18 Paid the amount owed to Starr Company.