Prepare Journal Entries for the Following Transactions for Mark Machine

question 102

Essay

Prepare journal entries for the following transactions for Mark Machine Parts applying the perpetual inventory system. Omit explanations.
July 9 Purchased on account 4 tires for $700.
11 Returned 1 tire for $175 credit.
15 Sold 2 tires for $1,500 cash, cost $350.
19 Paid the balance due on account.

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