om i 8 of 72 Problem 1: (10 marks) Prepare the necessary general journal...
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om i 8 of 72 Problem 1: (10 marks) Prepare the necessary general journal entries for the month of September for Al-Baraka Company for each situation given below. Al-Baraka uses a perpetual inventory system. Oct. 5 Paid cash of $14.000 for operating expenses that were incurred and properly recorded in the previous period. (2 marks) Oct. 8 Purchased merchandise for $16,000 on account September 1. Credit terms: 2/10, 1/30. (2 marks) Oct. 10 Paid freight bill of $335 for merchandise purchased on September 8. (2 marks) Oct. 15 Paid for merchandise purchased on September 8. (2 marks) Oct. 20 Sold merchandise for $13,000 to Myra Dame on account on September 12. The cost of the merchandise sold was $7.800. Credit terms: 2/10, 1/30 (2 marks). Answer here
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