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6. Bowser Company sold $1,200,000 worth of merchandise, had $100,000 returned, and then the balance was received during the 2% discount period. What were the
6. Bowser Company sold $1,200,000 worth of merchandise, had $100,000 returned, and then the balance was received during the 2% discount period. What were the company's net sales? A) $1,078,000 B) 900,000 C) $1,020,000 D) 880,000 7. Using a perpetual inventory system, the seller's journal entry to record the return of non-defective goods from a customer of merchandise sold on account includes a: A) Credit to Sales Returns and Allowances B) Debit to Cost of Goods Sold C) Credit to Inventory D) Debit to Inventory
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