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(1) On October 5, Lane Company buys merchandise on account from O'Brien Company. The selling price of the goods is $6,710, and the cost to
(1) On October 5, Lane Company buys merchandise on account from O'Brien Company. The selling price of the goods is $6,710, and the cost to O'Brien Company is $3,170. On October 8, Lane returns defective goods with a selling price of $840 and a scrap value of $430. Record the transactions on the books of Lane Company. Date Description/Account Debit Credit Oct. 5 ______________? ____________? _____________? Oct. 8 ______________? ____________? _____________? Thank you
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
11th Edition
9781118566671
