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Home Q & A Board Other Fields Homework Help Business Accounting
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majestico majestico
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7 years ago
Fox Company uses a voucher system and the periodic inventory method. The following transactions were completed:

May 3   Purchased $5,000 of merchandise; terms 3/10, n/30.
   Prepared voucher #205.
May 13   Paid voucher #205.

Required: Prepare journal entries to record the above transactions. Assume Fox Company uses the gross method for recording purchases. Omit explanations.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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LaffioLaffio
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