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4) Record the sale of the merchandise on credit for $30,000 (cost $20,000), terms 4/10, n/60, FOB shipping point. Record the payment of $300 for
4) Record the sale of the merchandise on credit for $30,000 (cost $20,000), terms 4/10, n/60, FOB shipping point.
- Record the payment of $300 for the shipping charges on merchandise sold in (4).
- Record the return of merchandise sold in (4) which was accepted for full credit and returned to merchandise inventory, $3,000 (cost, $2,000)
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
