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No. Account Titles and Explanation Debit Credit 1. Accounts Receivable 5359000 Sales 5359000 (To record sales) Cost of Goods Sold 2961000 Inventory 2961000 (To record
No. Account Titles and Explanation Debit Credit 1. Accounts Receivable 5359000 Sales 5359000 (To record sales) Cost of Goods Sold 2961000 Inventory 2961000 (To record cost of goods sold) 2. Sales Returns and Allowances 83000 Accounts Receivable 83000 (To record sales returns) Inventory 46000 Cost of Goods Sold 46000 (To record cost of goods returned) 3. Cash 5359000 Accounts Receivable 5359000 4. Accounts Receivable 407000 Interest Revenue 407000 5. Allowance for Doubtful Accounts 174000 Accounts Receivable 174000
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