Problem

Journalizing purchase and sale transactions—perpetual systemThe following transactions occ...

Journalizing purchase and sale transactions—perpetual system

The following transactions occurred between East Pharmaceuticals and E & M, the pharmacy chain, during August of the current year:

Requirements

1. Journalize these transactions on the books of E & M.
2. Journalize these transactions on the books of East Pharmaceuticals.

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Solutions For Problems in Chapter 5

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