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Prepare the journal entry for JB Supermarkets on July

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Question - JB Supermarkets bought $2,850 worth of groceries on account from a produce supplier on July 23, 2019. On July 24, JB's bookkeeper was informed that $150 worth of tomatoes was substandard and returned to the supplier. Prepare the journal entry to record the purchase return using the perpetual inventory system.

Prepare the journal entry for JB Supermarkets on July 24.

Reference no: EM132908713

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