Flint Ltd. had beginning inventory of 51 units that cost $100 each. During September, the company purchased 206 units on account at $100 each, returned 7 units for credit, and sold 150 units at $203 each on account. Journalize the September transactions, assuming that Flint Ltd. uses a perpetual inventory system. Account Titles and Explanation Debit Credit

Flint Ltd. had beginning inventory of 51 units that cost $100 each. During September, the company purchased 206 units on account at $100 each, returned 7 units for credit, and sold 150 units at $203 each on account. Journalize the September transactions, assuming that Flint Ltd. uses a perpetual inventory system. Account Titles and Explanation Debit Credit

Name: Flint Ltd. had beginning inventory of51 units that cost $100 each. Du
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Description: Flint Ltd. had beginning inventory of51 units that cost $100 each. DuringSeptember, the companypurchased 206 units on account at$100 each, returned 7 units forcredit, and sold 150 units at $203each on account.Journalize the Septembertransactions, as

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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