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he following information is about a merchandise organization. Write journal entries under perpetual inventory system. July 1st Sold OMR 8,500 of merchandise on credit (Cost
he following information is about a merchandise organization. Write journal entries under perpetual inventory system. July 1st Sold OMR 8,500 of merchandise on credit (Cost OMR 4,500), with terms 3/10, n/30. July 13th the customer returned OMR 750 worth of slightly demanded merchandise to the retailer and received a full refund. The retailer returned the merchandise to its inventory at a cost of OMR 150. July 15th the customer discovered some merchandise was the wrong color and received an allowance from the retailer of OMR 350 July 25th The customer paid the account in full
he following information is about a merchandise organization. Write journal entries under perpetual inventory system.
July 1st Sold OMR 8,500 of merchandise on credit (Cost OMR 4,500), with terms 3/10, n/30.
July 13th the customer returned OMR 750 worth of slightly demanded merchandise to the retailer and received a full refund. The retailer returned the merchandise to its inventory at a cost of OMR 150.
July 15th the customer discovered some merchandise was the wrong color and received an allowance from the retailer of OMR 350
July 25th The customer paid the account in full
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
18th Edition
9781119790976
