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please make sure answer is formatted like it is pictured. :) Prepare the journal entries to record the following transactions on Ivanhoe Company's books using
please make sure answer is formatted like it is pictured. :)
Prepare the journal entries to record the following transactions on Ivanhoe Company's books using a perpetual inventory system. (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 joumal entries in the order presented in the problem.) {a) (b) On March 2, Ivanhoe Company sold $882,900 of merchandise to Metlock Company on account, terms 3/10, 1/30. The cost of the merchandise sold was $527,900, On March 6, Metlock Company returned $107,600 of the merchandise purchased on March 2. The cost of the merchandise returned was $66,800 On March 12, Ivanhoe Company received the balance due from Metlock Company (c) Date Account Titles and Explanation Debit Credit (To record sale of merchandise) (To record return of merchandise) March 12 Step by Step Solution
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