Prior Company buys merchandise on account from Wood Company. The selling price of the goods is $900

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Prior Company buys merchandise on account from Wood Company. The selling price of the goods is $900 and the cost of the goods sold is $630. Both companies use perpetual inventory systems. Journalize the transactions on the books of both companies.

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Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Apr 21, 2012 01:32 AM

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Prior Company buys merchandise on account from Wood Company. The selling price of the goods is $900

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Financial Accounting Tools for Business Decision Making

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