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Need help on C. Record the following transactions on the books of Lawn Ltd, which uses a perpetual inventory system. Lawn's expected rate of return
Need help on C.
Record the following transactions on the books of Lawn Ltd, which uses a perpetual inventory system. Lawn's expected rate of return on sales is 4%. (a) Sold $23,800 of merchandise on April 28 to Valez Ltd., terms r/30. The goods sold had cost Lawn $16,800. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) On May 3, merchandise with a selling price of $900 was returned by Valez. The goods had a cost of $600 and they were restored to inventory. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) On May 26, Valez paid its account. (Uist debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select " No Entry" for the occount titles and enter of for the amounts.) eTextbook and Media List of Accounts Attempts: 0 of 3 used Step by Step Solution
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