John peters buys merchandise from newells on september 16, Financial Accounting

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John peters buys merchandise from newells on september 16

John Peters buys merchandise from Newell's on September 16 for $1,800, terms 2/IO,n/30. Newell's later grants an allowance of$200 on September 20. Peters pays the account in full on September 25.

(a) Give entries in general journal form to record the three transactions on Peters books.

(b) Indicate the special journal in which each entry should be recorded.

Date Description folio Debits Credits

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Financial Accounting: John peters buys merchandise from newells on september 16

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Financial Accounting: John peters buys merchandise from newells on september 16

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