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Prepare the journal entries that Boggs Company

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Prepare the journal entries that Boggs Company (a) Boden Company purchased merchandise on account from Office Suppliers for $86,000, with terms of 2/10, n/30. During the discount period, Boden returned some merchandise and paid $78,400 as payment in full. Boden uses a perpetual inventory system. Prepare the journal entries that Boden Company made to record: (1) the purchase of merchandise. (2) the return of merchandise. (3) the payment on account. (b) Boggs Company sold merchandise to Wilsey Company on account for $73,000 with credit terms of ?/10, n/30. The cost of the merchandise sold was $43,800. During the discount period, Wilsey Company returned $3,000 of merchandise and paid its account in full (minus the discount) by remitting $69,300 in cash. Both companies use a perpetual inventory system. Prepare the journal entries that Boggs Company made to record: (1) the sale of merchandise. (2) the return of merchandise. (3) the collection on account. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help

Prepare the journal entries that Boggs Company

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