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Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May Sold 8 motors at a cost of $45 each

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Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May Sold 8 motors at a cost of $45 each to Scruffy Brothers Supply Company, terms 4/10,n/30. The motors cost Charlie $26 13 each. May One defective motor was returned to Charlie. 16 May Received payment in full from Scruffy Brothers. 23 Question 41 of 43 -17 Journalize the May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual inventory system. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. Record Journal entries in the order presented In the problem. Round answers to decimal places, eg. 5,275.) Date Account Titles and Explanation Debit Credit (To record credit sale.) (To record cost of good sold.) (To record goods returned.) (To record cost of good returned.) May 23

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