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Charlie Company, which uses a perpetual inventory system, had previously sold 6 motors at a sales price of $45 each to Scruffy Brothers Supply Company,

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Charlie Company, which uses a perpetual inventory system, had previously sold 6 motors at a sales price of $45 each to Scruffy Brothers Supply Company, terms 4/10, 1/30. The motors cost Charlie $26 each. One defective motor was previously returned to Charlie. Charlie also received payment in full from Scruffy Brothers within the discount period. The correct joumal entry for the payment transaction will include a: a debit to Sales Discount for $9 b. credit to A/R for $216 c.credit to Sales Discount for $26 d. debit to cash for $225 Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2015 are as follows: Units Per unit price Total Balance, 1/1/15 200 $5.00 $1,000 Purchase, 1/15/15 100 5.30 530 Purchase, 1/28/15 100 5,50 550 An end of the month (1/31/15) inventory showed that 140 units were on hand. How many units did the company seil during January, 20152 a 200 b. 140 C. 60 d. 260

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