Riverbed Inc. uses a perpetual inventory system. During April, the following transactions occurred: Apr 3 Purchased $3,4

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answerhappygod
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Riverbed Inc. uses a perpetual inventory system. During April, the following transactions occurred: Apr 3 Purchased $3,4

Post by answerhappygod »

Riverbed Inc. uses a perpetual inventory system. During April,
the following transactions occurred:
Apr 3 Purchased $3,400 of merchandise, terms 3/10, n/60.
6 Returned $1,000 of the merchandise purchased on April 3.
7 Paid freight charges of $290 on goods purchased on April
3.
12 Paid for the goods purchased on April 3.
13 Sold goods costing $740 on credit for $2,400. Estimated
returns are 10%.
14 The customer of April 13 returned $440 of the goods that had
a cost of $320.
23 Received payment from the customer of April 13.
Prepare journal entries to record the above transactions.(If no
entry is required, select "No Entry" for the account titles and
enter 0 for the amounts. Credit account titles are automatically
indented when amount is entered. Do not indent manually. Record
journal entries in the order presented in the problem. List all
debit entries before credit entries.)
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