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Bascomb Company purchased $420,000 in merchandise on account during the month of April, and merchandise costing $350,000 was sold on account for $425,000.

 Required: 

Prepare journal entries to record the purchases and sales assuming Bascomb uses a perpetual inventory system.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M945467

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