1st sept purchased inventory from orion company on account, Ask an Expert

Accounting

The subsequent are selected 2012 transactions of Darby Corporation.

1st Sept purchased inventory from Orion Company on account for $54,050. Darby records purchases gross and uses periodic inventory system.

1st Oct Issued a $54,050, 12-month, 8 percent note to Orion in payment of account.

1st Oct Borrowed $82,770 from the Shore Bank by signing a 12-month, zero-interest-bearing $89,010 note.

(a) Create journal entries for selected transactions.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9310653

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