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Please help me with this one! DO Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized)
Please help me with this one! DO Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: 0.47 points 5252.400 a. Sold merchandise for cash (Cost of merchandise $143,910). b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $680). C. Sold merchandise (costing $5,400) to a customer on account with terms / d. Collected half of the balance owed by the customer in (). e. Granted a partial allowance relating to credit sales the customer in (had not yet paid. ( 8 000 ! 1,630 12,000 6,00 1,640 3. Prepare journal entries to record transactions (a)-e). (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) References View transaction list Journal entry worksheet 2 3 4 5 6 7 8 Record the cash sales of $257,400. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal
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