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1. JB Games buys goods on credit at the cost price of $15,000 expecting they can sell these goods for $35,000. 2. Customers pay cash

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1. JB Games buys goods on credit at the cost price of $15,000 expecting they can sell these goods for $35,000. 2. Customers pay cash for goods which have a cost price of $1,500 and a selling price of $3,000 3. Return faulty $2,000 worth of goods and receive a credit note to be used on the next purchase. Required: Drop and drag to complete the journal entries for these transactions applying the perpetual inventory method Particulars Debit Credit blank $1,500 $3,000 Sales Bank $15,000 no entry $2,000 0 Inventory $35,000 Cost of Goods Sold Sales Returns Accounts Payable Accounts Receivable

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