Record journal entries for the following purchase transactions of Apex Industries. Nov. 6 Purchased 29 computers on credit for $560 per computer. Terms of the purchase are 4/10, n/60, invoice dated November 6. Nov. 10 Returned 4 defective computers for a full refund from the manufacturer. Nov. 22 Paid account in full from the November 6 purchase. If an amount box does not require an entry, leave it blank. Assume the periodic inventory system is used. Nov. 6 Purchases Purchases Accounts Payable Accounts Payable Nov. 10 Accounts Payable Accounts Payable Purchase Returns and Allowances Purchase Returns and Allowances Nov. 22 Accounts Payable Accounts Payable Cash Cash

Record journal entries for the following purchase transactions of Apex Industries. Nov. 6 Purchased 29 computers on credit for $560 per computer. Terms of the purchase are 4/10, n/60, invoice dated November 6. Nov. 10 Returned 4 defective computers for a full refund from the manufacturer. Nov. 22 Paid account in full from the November 6 purchase. If an amount box does not require an entry, leave it blank. Assume the periodic inventory system is used. Nov. 6 Purchases Purchases Accounts Payable Accounts Payable Nov. 10 Accounts Payable Accounts Payable Purchase Returns and Allowances Purchase Returns and Allowances Nov. 22 Accounts Payable Accounts Payable Cash Cash

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

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Chapter12: Current Liabilities

Section: Chapter Questions

Problem 3PB: Review the following transactions, and prepare any necessary journal entries for Sewing Masters Inc....

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Nov. 6	Purchased 29 computers on credit for $560 per computer. Terms of the purchase are 4/10, n/60, invoice dated November 6.
Nov. 10	Returned 4 defective computers for a full refund from the manufacturer.
Nov. 22	Paid account in full from the November 6 purchase.

Nov. 6	Purchases	Purchases
	Accounts Payable	Accounts Payable
Nov. 10	Accounts Payable	Accounts Payable
	Purchase Returns and Allowances	Purchase Returns and Allowances
Nov. 22	Accounts Payable	Accounts Payable
	Cash	Cash