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12. Record the following transactions on the books of K Company (a) On June 1, K Company sold merchandise on account to M Company

12. Record the following transactions on the books of K Company (a) On June 1, K Company sold merchandise on account to M Company for $30,400, terms 2/10, n/30. (b) On June 8, M Company returned merchandise worth $7,600 to K Company. (c) On June 11, M Company paid for the merchandise.

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