Record the following transaction for Robert Corporation in general journal form.Nov. 14 Bought merchandise on account from Trexel, Inc., invoice no. A2051, $2,225; terms net 30 days; dated November 13; FOB shipping point, freight prepaid and added to the invoice, $100.50 (total $2,325.50).Nov. 24 Robert Corporation received credit memo no. 213 from Trexel, Inc., for merchandise returned, $125

Perpetual inventory system is the method of recording stores balances after every receipts and issue…

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College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter9: Sales And Purchases

Section: Chapter Questions

Problem 4E: Journalize the following transactions in general journal form. a. Bought merchandise on account from...

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Record the following transaction for Robert Corporation in general journal form.

Nov. 14 Bought merchandise on account from Trexel, Inc., invoice no. A2051, $2,225; terms net 30 days; dated November 13; FOB shipping point, freight prepaid and added to the invoice, $100.50 (total $2,325.50).
Nov. 24 Robert Corporation received credit memo no. 213 from Trexel, Inc., for merchandise returned, $125

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