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On November 4, Coon Company sold merchandise inventory on account to Tame Wholesalers, $16,000, that cost $5,600. Terms 1/10, n/30 On November 5, Tame

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On November 4, Coon Company sold merchandise inventory on account to Tame Wholesalers, $16,000, that cost $5,600. Terms 1/10, n/30 On November 5, Tame Wholesalers paid shipping of $45. Tame Wholesalers paid the balance to Coon Company on November 13. (Assume both companies use a perpetual inventory system and that sales are recorded at the net amount) Read the requirements Requirement 1. Journalize Tame Wholesaler's November transactions (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Nov. 4. Purchased merchandise inventory on account from Coon Company for $16,000, terms 1/10, n/30. Date Nov 41 Accounts Debit Credit

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