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Posted: April 20th, 2022
need help with this problem wi
Question description
need help with this problem with account Special journals: Buyer’s entriesW.J. Company uses the gross method of recording purchases of merchandise. It also uses the perpetual inventory system.Transaction:On August 8, W. J. Co. purchased a one-year insurance policy in advance from Premium Company for cash, $2,172, check #1776.Required:(a) Select the appropriate special journal in which the transaction should be entered.(b) Enter the transaction in that journal.
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