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On September 5, Pertamax Company buys merchandise on account from Pertamina Company. The purchase price of the goods paid by Pertamax is $18,000, and
On September 5, Pertamax Company buys merchandise on account from Pertamina Company. The purchase price of the goods paid by Pertamax is $18,000, and the cost to Pertamina Company was $8,000. On September 8, Pertamax returns defective goods with a selling price of $3,000. Record the transactions on the books of Pertamax Company and give your explanation!
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Cost Accounting Traditions and Innovations
Authors: Barfield Jesse, Raiborn Cecily, Kinney Michael
4th edition
324026455, 978-0324026450
