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On October 5, Wildhorse Co. buys merchandise on account from Sandhill Co. The selling price of the goods is $6,800, and the cost to Sandhill

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On October 5, Wildhorse Co. buys merchandise on account from Sandhill Co. The selling price of the goods is $6,800, and the cost to Sandhill Co. is $3,730. On October 8, Wildhorse Co. returns defective goods with a selling price of $890 and a scrap value of $380. Record the transactions on the books of Sandhill Co., assuming a perpetual approach. (If no entry is required, select "No Entry" for the account titles and enter O 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) Date Account Titles and Explanation Debit Credit Oct. SOct. 8 To record credit sales) (To record cost of goods sold on account Oct. 50ct. 8 (To record credit granted for receipt of returned goods) (To record scrap value of goods returned) Click if you would like to Show Work for this question:Open Show Work

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