Question
On September 5, Hoya Company buys merchandise on account from Macy Company. The goods selling price is $1,500, and the cost to Macy was $800.
On September 5, Hoya Company buys merchandise on account from Macy Company. The goods selling price is $1,500, and the cost to Macy was $800. On September 8, Hoya Company returns defective goods with an initial selling price of $200 and a fair value of $30.
Required: Record the TRANSACTION OF MACY Company.
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