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On October 5 , Crane Company buys merchandise on account from Larkspur Company. The selling price of the goods is $ 6 , 5 0

On October 5, Crane Company buys merchandise on account from Larkspur Company. The selling price of the goods is $6,500, and the cost to Larkspur Company is $3,520. On October 8, Crane returns defective goods with a selling price of $720 and a scrap value of $340.

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