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On October 5. Wildhorse Company buys merchandise on account from Windsor Company. The selling price of the goods is $6,950, and the cost to Windsor

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On October 5. Wildhorse Company buys merchandise on account from Windsor Company. The selling price of the goods is $6,950, and the cost to Windsor Company is $3,300. On October 8, Wildhorse returns defective goods with a selling price of $890 and a scrap value of $390 Record the transactions on the books of Windsor Company, assuming a perpetual approach. (If no entry is required, select "No Entry" for the account titles and enter 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 (To record credit sales) (To record cost of goods sold on account) (To record credit granted for receipt of returned goods) (To record credit sales) 1 (To record cost of goods sold on account) (To record credit granted for receipt of returned goods) (To record scrap value of goods returned)

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