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Prepare journal entries, assuming Hudson Corp. uses a perpetual inventory system, for the following transactions: Hudson Corp. sold merchandise an account for $900, 000, terms

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Prepare journal entries, assuming Hudson Corp. uses a perpetual inventory system, for the following transactions: Hudson Corp. sold merchandise an account for $900, 000, terms 2/10, n/30. The merchandise cost $630, 000. Customers returned $10, 000 of the merchandise, which had a related cost of $7, 000, 5days after the sale. Customers who owed Hudson $400, 000 from the sales in #1 paid their accounts in full 9 days after the date of the sale. Customers who owed Hudson $237, 000 paid their accounts in full 25 days after the date of the sale. In addition to the sales in #1, Hudson sold $300, 000 of merchandise to customers through credit card purchases. The credit card company withholds a 3% fee and deposits the balance to Hudson's account. The cost of the merchandise sold was $200, 000

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