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San Diego State University Operations And Supply Chain Management Assignment Help - Goods


Question - Boone Hardware Store completed the following merchandising transactions in the month of May. At
the beginning of May, the ledger of Boone showed Cash of $5,000 and Owner’s Capital of $5,000.
May 1 Purchased merchandise on account from Adewale’s W holesale Supply $4,200, terms 2/10,
n/30.
2 Sold merchandise on account $2,100, terms 1/10, n/30. The cost of the merchandise sold was
$1,300.
5 Received credit from Adewale’s W holesale Supply for merchandise returned $300.
9 Received collections in full, less discounts, from customers billed on sales of $2,100 on
May 2.
10 Paid Adewale’s W holesale Supply in full, less discount.
11 Purchased supplies for cash $400.
12 Purchased merchandise for cash $1,400.
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