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Accounting Assignment | Buy Homework Help

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March 16th, 2020

Given the following transactions engaged in by Fournier Company, prepare journal entries and, assuming the periodic inventory system, determine the total amount received from Brook Company:

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Dec. 1 Sold merchandise on credit to Brook Company, terms 2/10, n/30, FOB shipping point, $500.3 Accepted a return from Brook for full credit, $200.10 Collected amount due from Brook for the sale, less the return and discount.11 Sold merchandise on credit to Brook, terms 2/10, n/30, FOB shipping point, $800.31 Collected amount due from Brook for the sale of December 11. Get Accounting Help Today

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