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Instruction: Journalize the following transactions for both Maryam Co.I(seller) and Fatima Co. (buyer assuming all use a perpetual inventory system July 3 Maryam Co. sold
Instruction: Journalize the following transactions for both Maryam Co.I(seller) and Fatima Co. (buyer assuming all use a perpetual inventory system July 3 Maryam Co. sold merchandise on account to Dalton Co., $5,000, terms FOB shipping point, net/eom, The cost of the merchandise sold was $2,300. July 5 Fatima Co. paid $335 freight charges on purchase from Maryam Co. July 9 Maryam Co. issued Fatima Co. a credit memo for merchandise returned, $2,000. The cost of the merchandise returned was $1,220. July 11 Maryam Co. received payment from Fatima Co. for purchase of July 3. Maryam Co. Accounts Debit Date Credit Accounts Fatima Co. Debit Credit
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