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Reber Corp. uses the perpetual inventory system. Its transactions during July 2016 are as follows:
|
July |
6 |
Purchased $600 of merchandize on account (for credit) form Hobson Corporation for terms 1/10, net 30 |
|
9 |
Returned $200 of defective merchandize |
|
|
15 |
Paid the amount owing to Hobson. |
Required: Prepare journal entries to record the above transactions. Include general ledger account numbers and brief descriptions.
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