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Exercise 6-46(Algorithmic) Recording Purchases Dawson Enterprises uses the perpetual system to record...

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Accounting

Exercise 6-46(Algorithmic)
Recording Purchases
Dawson Enterprises uses the perpetual system to record inventory transactions. In a recent month, Dawson engaged in the following transactions:
a. On April 1, Dawson purchased merchandise on credit for $21,900 with terms 210,n30,
b. On April 2, Dawson purchased merchandise on credit for $24,000 with terms 3/15, n/25.
c. On April 9, Dawson paid for the purchase made on April 1.
d. On April 25, Dawson paid for the merchandise purchased on April 2.
Required:
Prepare journal entries for these four transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.
Apr. 1
(Purchased inventory on credit)
Apr. 2
(Purchased inventory on credit)
Apr. 9
(Paid within the discount period)
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