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Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May 13 Sold 10 motors at $500 each, terms 2/10,n/30.

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Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May 13 Sold 10 motors at $500 each, terms 2/10,n/30. The motors cost Charlie $300 each. May 16 One motor was returned to Charlie. May 18 Received payment in full. Instructions Journalize the May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual inventory system

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