On July 23. Pultnewille Company purchased goods on account for ($5,000.) Pultneyville later returned defective goods costing
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On July 23. Pultnewille Company purchased goods on account for \($5,000.\) Pultneyville later returned defective goods costing \($300\).
Record the purchase and the return of the defective goods assuming (1) a periodic inventory system, and (2) a perpetual inventory system.
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Related Book For 
Intermediate Accounting
ISBN: 9780324013078
14th Edition
Authors: Fred Skousen, James Stice, Earl Kay Stice
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