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    College Accounting Study Set 2
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    Exam 15: Accounting for Merchandise Inventory
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    Journalize the Following Assuming Periodic Inventory
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Journalize the Following Assuming Periodic Inventory

Question 104

Question 104

Essay

Journalize the following assuming periodic inventory.
June 20 Made purchases of inventory for $4,500 on account.
June 21 Made sales of $3,500 cash and $2,500 credit.
June 22 Returned $2,000 of purchases for defects.

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