On April 15, Jones, Inc. purchased merchandise inventory at an invoice price of $350,000, with...
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Accounting
On April 15, Jones, Inc. purchased merchandise inventory at an invoice price of $350,000, with terms of 3/15, n/30. Jones uses the perpetual inventory system. Required: Credit General Journal Date Account Name Debit Assuming that the full, appropriate payment was made on April 28, prepare journal entries to record the purchase and payment, using the Gross Price Method: Apr. 15 Apr. 28 General Journal Date Account Name Debit Assuming that the full, appropriate payment was Credit
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