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8B - Journal Entries for Purchase, Return, and Remittance - Periodic System On August 15,...

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Accounting

8B - Journal Entries for Purchase, Return, and Remittance - Periodic System

On August 15, the Harris Company purchases $16,500 of merchandise from Jason Company with terms of 2/10, n/30. On Aug. 17, Harris paid $350 freight on the shipment. On August 20, Harris returned $500 worth of merchandise for credit. Final payment was made to Jason on August 24. Harris Company records purchases using the periodic inventory system.

Required: Prepare the journal that Harris should make on August 15, August 17, August 20, & August 24.

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