The following purchase-related transactions for Chandler Industries Inc. occurred during the month of March: Mar 3 9 16 22 30 30 Purchased $3,900 of merchandise, paid cash. Purchased $450 of supplies on account from Inland Supply. Terms, n/30, FOB destination. Purchased $5,100 of merchandise on account from Mackay International Inc. Terms, 3/15, n/30, FOB shipping point. Received a credit memo in the amount of $1,000 from Mackay International Inc. for damaged goods from the March 16 purchase that were returned. Paid for the supplies purchased on March 9. Paid Mackay International Inc. in full for the March 16 purchase. Requirement 1. Journalize the transactions for Chandler Industries Inc. No explanations are necessary.

The following purchase-related transactions for Chandler Industries Inc. occurred during the month of March: Mar 3 9 16 22 30 30 Purchased $3,900 of merchandise, paid cash. Purchased $450 of supplies on account from Inland Supply. Terms, n/30, FOB destination. Purchased $5,100 of merchandise on account from Mackay International Inc. Terms, 3/15, n/30, FOB shipping point. Received a credit memo in the amount of $1,000 from Mackay International Inc. for damaged goods from the March 16 purchase that were returned. Paid for the supplies purchased on March 9. Paid Mackay International Inc. in full for the March 16 purchase. Requirement 1. Journalize the transactions for Chandler Industries Inc. No explanations are necessary.

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Description: The following purchase-related transactions for Chandler Industries Inc. occurred during the month ofMarch:Mar3916223030Purchased $3,900 of merchandise, paid cash.Purchased $450 of supplies on account from Inland Supply. Terms, n/30, FOB destination

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

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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