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Home office transferred merchandise costing $590,700 at 25% mark up above cost to its Meadow branch paying freight of 4% of merchandise's billed price. Home

Home office transferred merchandise costing $590,700 at 25% mark up above cost to its Meadow branch paying freight of 4% of merchandise's billed price. Home office uses periodic inventory system.

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How much should be credited by the Meadow branch to its 'Home Office Current' account as a result of this transaction?

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