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On July 1, Walla Walla Corp. sold merchandise on account to Cambridge Inc. for $74,000, terms n/30. The cost of the merchandise sold was $39,400.

On July 1, Walla Walla Corp. sold merchandise on account to Cambridge Inc. for $74,000, terms n/30. The cost of the merchandise sold was $39,400. Walla Walla expected a return rate of 5%.

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