Business, 02.11.2020 17:00 googoo4

arns Company purchased merchandise on account from Bailey Office Suppliers for $174,000, with terms of 2/10, n/30. During the discount period, Karns returned some merchandise and paid $156,800 as payment in full. Karns uses a perpetual inventory system. Prepare the journal entries that Karns Company made to record: (1) the purchase of merchandise. (2) the return of merchandise. (3) the payment on account.

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arns Company purchased merchandise on account from Bailey Office Suppliers for $174,000, with terms...

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