On January 6, Tarjee Limited sold merchandise on account to Singh Inc. for $45,200, terms...
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Accounting
On January 6, Tarjee Limited sold merchandise on account to Singh Inc. for $45,200, terms n/30. The merchandise originally cost Tarjee $28,800. On January 25, Singh paid the amount due. Both Tarjee and Singh use a perpetual inventory system
Prepare the entries on Singhs books to record the purchase and related payment. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 6Jan. 25
Jan. 6Jan. 25
Answer & Explanation
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