Using the perpetual inventory system, journalize the entries for the following selected transactions:
Definitions:
Contracting Method
The approach and procedures used to agree upon terms of service or product delivery between a company and its suppliers or contractors.
Implied Authority
Authority that is not explicitly stated but is assumed to be granted in order to fulfill the responsibilities of a position or role.
Expressly Authorized
Explicitly given permission or authority to undertake a specific task or action.
Legal Agent
A person authorized to act on behalf of another person or entity in legal or financial matters.
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