Prepare journal entries to record the following merchandising transactions of Margin Company, Inc., which uses the gross method of accounting for purchases and sales and a perpetual inventory system. Margin Company, Inc. offers all of its credit customers credit terms of 2/10, n/30.

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The Answer of Prepare journal entries to record the following merchandising transactions of Margin Company, Inc., which uses the gross method of accounting for purchases and sales and a perpetual inventory system. Margin Company, Inc. offers all of its credit customers credit terms of 2/10, n/30.

Prepare Journal Entries to Record the Following Merchandising Transactions of Margin