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T MMY HILFIGER uni Kieso, Intermediate Accounting, 16e INTERMEDIATE ACCo Gradebook ORION Downloadable eTextboolk ment...

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Accounting

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T MMY HILFIGER uni Kieso, Intermediate Accounting, 16e INTERMEDIATE ACCo Gradebook ORION Downloadable eTextboolk ment Exercise 13-2 The following are selected 2017 transactions of Grouper Corporation. Sept. 1 Purchased inventory from Encino Company on account for $46,400. Grouper records purchases gross and uses a periodic inventory system. Oct. 1 Issued a $46,400, 12-month, 8% note to Encino in payment of account. Oct. 1 Borrowed $46,400 from the Shore Bank by signing a 12-month, zero-Interest-bearing $49,560 note. enter O for the t ic ntrad Dot indent manually. Record entries in the order displayed in the problem s Prepare journal entries for the selected transactions above. (If no entry is required, select "No Entry" for the account titles and

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