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On December 7, Smart Touch delivers equipment to a small retailer on consignment. The cost of the equipment was $1,370 and the combined retail selling

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On December 7, Smart Touch delivers equipment to a small retailer on consignment. The cost of the equipment was $1,370 and the combined retail selling price is $2,200. If the retail shop sells the equipment, Smart Touch will pay 20% commission. Both companies use a perpetual inventory method. Date Accounts Debit Credit Dec.7

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