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Based on the information below: a. Seller sold merchandise on account to the buyer, $4,750, terms 2/10, net 30, FOB shipping point. The cost of
Based on the information below:
a. | Seller sold merchandise on account to the buyer, $4,750, terms 2/10, net 30, FOB shipping point. The cost of the merchandise is $2,850. The seller prepays the freight of $75. |
b. | Buyer returns $700 of merchandise as defective. The cost of the merchandise is $420. |
c. | Buyer pays within the discount period. |
Joumake the entries for the Sabring a parpetual inventory system. If no any is required, select "No try required and leave the amount bois blank. If an amount box does not require an entry, leave it bank Joumake the entries for the Buyer using a perpetual inventory system. If no entry is required, select "No entry required and leave the amount bones blank. If an amount box does not require an entry, havet blank
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