Sales transactions Obj. 2 Journalize the following merchandise transactions: a. Sold merchandise on account, $72,500 with terms
Question:
Sales transactions Obj. 2 Journalize the following merchandise transactions:
a. Sold merchandise on account, $72,500 with terms 2/10, n/30. The cost of the goods sold was $43,500.
b. Received payment less the discount.
c. Refunded $1,000 to customer for defective merchandise that was not returned.
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Related Book For 
Corporate Financial Accounting
ISBN: 9781337398176
15th Edition
Authors: Carl Warren, Jefferson Jones
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