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On October 5, Carla Vista Company buys merchandise on account from Tamarisk Company. The selling price of the goods is $5,390, and the cost to
On October 5, Carla Vista Company buys merchandise on account from Tamarisk Company. The selling price of the goods is $5,390, and the cost to Tamarisk Company is $4,350. On October 8, Carla Vista returns defective goods with a selling price of $920 and a scrap value of $440.
Record the transactions on the books of Tamarisk Company, assuming a perpetual approach.
On October 5, Carla Vista Company buys merchandise on account from Tamarisk Company. The selling price of the goods is $5,390, and the cost to Tamarisk Company is $4,350. On October 8 , Carla Vista returns defective goods with a selling price of $920 and a scrap value of $440. Record the transactions on the books of Tamarisk Company, assuming a perpetual approach. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries.)Step by Step Solution
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