On June 10, Tamarisk, Inc. purchased $7,350 of merchandise on account from Culver Company, FUB...
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On June 10, Tamarisk, Inc. purchased $7,350 of merchandise on account from Culver Company, FUB snipping point, terms 3/10, n/ 30. Tamarisk, Inc. pays the freight costs of $500 on June 11. Goods totaling $650 are returned to Culver for credit on June 12 . On June 19. Tamarisk, Inc. pays Culver Company in full, less the purchase discount. Both companies use a perpetual inventory system. (a) Prepare separate entries for each transaction on the books of Tamarisk, Inc. (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 amounits. Record journal entries in the order presented in the problem.)
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