( Appendix 6A) Recording Purchase Transactions
Refer to the information for Mathis Company (p. 336) and assume that Mathis uses a periodic inventory system.
Required:
1. Prepare the journal entry to record the April 1 purchase of merchandise and payment of freight by Mathis.
2. Prepare the journal entry to record the April 8 return of merchandise.
3. Prepare the journal entry to record the April 10 payment to Reece.
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