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eBook Show Me How Sales-related transactions Instructions Chart of Accounts General Journal < Instructions Showcase Co., a furniture wholesaler, Jells merchandise to Balboa Co.
eBook Show Me How Sales-related transactions Instructions Chart of Accounts General Journal < Instructions Showcase Co., a furniture wholesaler, Jells merchandise to Balboa Co. on account, $252,510, terms n/30. The cost of the goods sold is $141,390. Showcase Co. issues a credit memo for $30,380 for merchandise returned prior to Balboa Co, paying the original invoice. The cost of the merchandise returned is $18,740. Journalize Showcase Co.'s entries for (a) the sale, including the cost of the goods sold, (b) the credit memo, including the cost of the returned merchandise, and (c) the receipt of the check for the amount due from Balboa Co
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