Question

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Answer 1

Debit(s) Credit($) 9500 9500 490 T 490 Answer: Date Account Title and Explanation Jun-10 Inventory Accounts Payable [To record the Merchandise purchase on Credit] Jun-11 Inventory Cash [To record the Merchandise purchase ] Jun-12 Accounts Payable Inventory [To reccord the damaged goods returned] Jun-19 Accounts Payable ($9500 -450) Inventory ($9050 x 2%) Cash |[To record thepayment to accounts payable after discount] 450 450 9050 181 8869