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Journalize the following transactions for Cook Company. Assume aperpetual inventory system. Also, assume a constantgross profit ratiofor all items sold. Make sure to enter the
Journalize the following transactions for Cook Company. Assume aperpetual inventory system. Also, assume a constantgross profit ratiofor all items sold. Make sure to enter the day for each separate transaction.March6Sold goods costing $8,400 to Parker Company forcash, $14,000.March12Parker Company returned undamaged merchandise, purchased on March 6, for a cash refund, $960.
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