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Ozzy Company returns $2,000 of merchandise purchased on October 3 Prepare the journal entries for the following transactions. You are doing this for the company
Prepare the journal entries for the following transactions. You are doing this for the company making the sale. Ignore cost of goods sold. October 3 Sell S9,000 worth of merchandise to the Ozzy Company on credit terms 2/10, n/30 October 5 Ozzy Company returns S2,000 of merchandise purchased on October 3. October 9 - Ozzy pays their balance from the October 3rd purchase in full.
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