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On June 5, Staley Electronics purchases 290 units of inventory on account for $29 each. After closer examination, Staley determines 30 units are defective and

On June 5, Staley Electronics purchases 290 units of inventory on account for $29 each. After closer examination, Staley determines 30 units are defective and returns them to its supplier for full credit on June 9. All remaining inventory is sold on account on June 16 for $53 each.

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