The following selected transactions were completed by Scat Trak


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The following selected transactions were completed by Scat Trak 1 answer below » The following selected transactions were completed by Scat Trak Company during July of the current year: July 1. Purchased merchandise from Kermit Co., $18,750, terms FOB destination, n/30. 3. Purchased merchandise from Basaway Co., $12,150, terms FOB shipping point, 2/10, n/eom. Prepaid transportation costs of $180 were added to the invoice. 4. Purchased merchandise from Phillips Co., $13,800, terms FOB destination, 2/10, n/30. 6. Issued debit memorandum to Phillips Co. for $1,900 of merchandise returned from purchase on July 4. 13. Paid Basaway Co. for invoice of July 3, less discount. 14. Paid View complete question » The following selected transactions were completed by Scat Trak Company during July of the current year: July 1. Purchased merchandise from Kermit Co., $18,750, terms FOB destination, n/30. 3. Purchased merchandise from Basaway Co., $12,150, terms FOB shipping point, 2/10, n/eom. Prepaid transportation costs of $180 were added to the invoice. 4. Purchased merchandise from Phillips Co., $13,800, terms FOB destination, 2/10, n/30. 6. Issued debit memorandum to Phillips Co. for $1,900 of merchandise returned from purchase on July 4. 13. Paid Basaway Co. for invoice of July 3, less discount. 14. Paid Phillips Co. for invoice of July 4, less debit memorandum of July 6 and discount. 19. Purchased merchandise from Cleghorne Co., $18,000, terms FOB shipping point, n/eom. 19. Paid transportation charges of $500 on July 19 purchase from Cleghorne Co. 20. Purchased merchandise from Graham Co., $9,000, terms FOB destination, 1/10, n/30. 30. Paid Graham Co. for invoice of July 20, less discount. 31. Paid Kermit Co. for invoice of July 1. 31. Paid Cleghorne Co. for invoice of July 19. Instructions Journalize the entries to record the transactions of Scat Trak Company for July. View less » Oct 11 2013 08:12 AM

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