On October 5, Narveson Company buys merchandise on account from Rossi Company. The selling price of the
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On October 5, Narveson Company buys merchandise on account from Rossi Company. The selling price of the goods is $5,000, and the cost to Rossi Company is $3,000. On October 8, Narveson returns defective goods with a selling price of $640 and a scrap value of $240. Record the transactions of Narveson Company, assuming a perpetual approach.
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Related Book For 
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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