Ceres Computer Sales Uses the Perpetual Inventory System and Had

question 85

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Ceres Computer Sales uses the perpetual inventory system and had the following transactions during December. Required:
Prepare the general journal entries to record these transactions.

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Definitions:

Lowest Terms

A fraction that cannot be reduced by any common divisor.

Fractions

Number expressions of one or more equal parts of whole units.

Improper Fractions

Improper fractions are fractions where the numerator (the top number) is greater than or equal to the denominator (the bottom number), representing a value equal to or greater than one.

Mixed Numbers

A number consisting of an integer and a proper fraction.