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Journalize purchase transactions

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Question - Prepare the journal entries to record these transactions on Allied Company's books:

A. On March 2, Allied Company purchased inventory $1,000,000 of, term 2/10, n/30.

B. On March 6 Allied Company returned $130,000 of the inventory purchased on March 2.

C. On March 12 Allied Company paid the money to seller.

Instruction - Journalize purchase transactions.

Reference no: EM132620635

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