Journalize the following transactions for armour inc using, Ask an Expert

Accounting

Journalize the following transactions for Armour Inc. using both the periodic inventory system and the perpetual inventory system, presented in a side-by-side format shown at the end of this exercise.

Sold merchandise on credit to Rondo Distributors, terms n/30, FOB destination, $1,200; the cost of the merchandise was $720.

Purchased merchandise, $10,000, terms FOB shipping point, 2/15, n/30, with prepaid freight charges of $525 added to the invoice.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91958475

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