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agap Nen Company uses a perpetual inventory system. During May, the following transactions and events occurred May 13 Sold 15 motors at a cost of
agap Nen Company uses a perpetual inventory system. During May, the following transactions and events occurred May 13 Sold 15 motors at a cost of $40 each to Slater Brothers Supply Company, terms 1/10, n/30. The motors cost Nen $25 each. May 16 Two defective motors were returned to Nen. May 23 Received payment in full from Slater Brothers Instructions Journalize the May transactions for Nen Company (seller) assuming tbat Nen uses a perpetual inventory system. You may omit explanations. Date Accounts Titles and Explanation Debit Credit May 13 Accounts Receivable Cash discount Revenue May 16 Sales Return I Accounts Receivable Cash discount May 23 Cash Accounts Receivable
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