The following are selected transactions of Candy, Inc., during the month of June: June 18 Sold and

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The following are selected transactions of Candy, Inc., during the month of June:

June 18 Sold and shipped on account to Dante Company $\$ 5,000$ ( $\$ 3,000$ cost) of merchandise, with terms of $2 / 10, \mathrm{n} / 30$.

25 Dante Company returned merchandise billed at $\$ 700$ on June 18 ( $\$ 300$ cost).

27 Received from Dante Company a check for full settlement of the June 18 transaction.

Required

Prepare the necessary journal entries for

(a) Candy, Inc.,

(b) Dante Company. Both companies use the perpetual inventory system.

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Financial Accounting For Undergraduates

ISBN: 9781618533081

4th Edition

Authors: Wallace

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Question Posted: May 16, 2024 06:01 AM

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The following are selected transactions of Candy, Inc., during the month of June: June 18 Sold and

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Financial Accounting For Undergraduates

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