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Question - Bascomb Co purchased $420,000 in merchandise on account during the month of April and merchandise costing $350,000 was sold on account for $425,000.
Required -
1. Prepare journal entries to record the purchases and sales assuming Bascomb uses a perpetual inventory system.
2. Prepare journal entries to record the purchases and sales assuming Bascomb uses a periodic inventory system.
carefully consider the following information before answering the questions that followquarter foods began its
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