Brady needs to record journal entries for various inventory

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Reference no: EM13578721

Brady needs to record journal entries for various inventory purchases on account and subsequent payments. Record the journal entries using both the gross and net methods.

11/1 Brady purchased 20 tables on account from David's Place for $4,000 with terms of 2/15, n 30.

11/4 Brady returned 3 tables to David's Place because they were found defective.

11/12 Brady paid for ten of the tables.

11/15 Brady paid a shipping bill for the tables from UPS for $300.

12/2 Brady paid the balance due to David's Place for the table purchase.

Reference no: EM13578721

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