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Mountcastle Inc., which uses the perpetual inventory system, buys and sells merchandise inventory. On October 5, Mountcastle sold inventory for $1,000 on account. The original

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Mountcastle Inc., which uses the perpetual inventory system, buys and sells merchandise inventory. On October 5, Mountcastle sold inventory for $1,000 on account. The original cost of this inventory was $300 Required: In the journal below, record this transaction. Do not include decimals or cents in the numerical response Date Debit Credit Oct 5

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