Journal entries under perpetual inventory system

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Reference no: EM133148988

Journal Entries Under the Perpetual Inventory system. Bhushan Building Supplies entered into the following transactions.

June 1 Purchased merchandise on account from Brij Builders Materials, $30,000.

3 Purchased merchandise for cash, $24,000.

5 Sold merchandise on account to Champa Construction for $60,000. The merchandise cost $45,000.

Prepare Journal entries under the perpetual inventory system.

Reference no: EM133148988

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