On November 14, 2010, Amazing Sound, Inc., sold $3,100 of inventory (cost is $1,330) on account to

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On November 14, 2010, Amazing Sound, Inc., sold $3,100 of inventory (cost is $1,330) on account to one of its customers. The terms were 3/10, n/30, FOB desti¬ nation. On November 16, Amazing Sound, Inc., paid freight charges of $65 related to the delivery of the goods sold on November 14. On November 20, $800 of dam¬ aged goods (cost is $420) were returned by the customer. On November 23, Amazing Sound, Inc., received payment in full from the customer.

Requirement 1. Journalize all necessary transactions for Amazing Sound, Inc. Omit explanations.

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Financial Accounting

ISBN: 9780136060482

1st Edition

Authors: Jeffrey Waybright, Robert Kemp

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