Regal Spas, Inc., purchased $ 11 comma 800 worth of inventory from the Pool Palace...
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Regal Spas, Inc., purchased $ 11 comma 800 worth of inventory from the Pool Palace on account, terms of 2/10, n/30. Some of the goods were damaged during shipment, so Regal Spas, Inc., returns $ 2 comma 300 of the merchandise to the Pool Palace. Read the requirementsLOADING.... Journalize the following transactions for Regal Spas, Inc. assuming the "net" method is utilized. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) a. Purchase of the goods Journal Entry Accounts Debit Credit a.
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