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Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May 13 May 16 Sold 8 motors at a
Charlie Company uses a perpetual inventory system. During May, the following transactions and events occurred. May 13 May 16 Sold 8 motors at a cost of $45 each to Scruffy Brothers Supply Company, terms 4/10, n/30. The motors cost Charlie $26 each One defective motor was returned to Charlie. May 23 Received payment in full from Scruffy Brothers. Journalize the May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual inventory system. (Credit account titles are automatically indented we amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Round answers to O decimal places, eg. 5.275) Date Account Titles and Explanation Debit Credit
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