Question
Journal Entries for Merchandise Transactions on Seller's and Buyer's Books- Perpetual System The following transactions occurred between the Decker Company and Mann Stores, Inc.,
Journal Entries for Merchandise Transactions on Seller's and Buyer's Books- Perpetual System The following transactions occurred between the Decker Company and Mann Stores, Inc., during March: Mar. 8 Decker sold $14,200 worth of merchandise ($9,900 cost) to Mann Stores with terms of 2/10, n/30. 10 Mann Stores paid freight charges on the shipment from Decker Company, $210. 12 Mann Stores returned $1,300 of the merchandise ($900 cost) shipped on March 8. 17 Decker received full payment for the net amount due from the March 8 sale. 20 Mann Stores returned goods that had been billed originally at $1,000 ($800 cost). Decker issued a check for $980.
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