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Prepare journal entries for the following merchandising transactions for Tucker Store. Tucker uses the perpetual inventory system and the gross method of recording invoices. All

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Prepare journal entries for the following merchandising transactions for Tucker Store. Tucker uses the perpetual inventory system and the gross method of recording invoices. All customers receive credit terms 3/15,n/60 September 7: Sold merchandise inventory to Bernie Smith for $10,200, FOB shipping point. The inventory had a cost to Tucker of $8,350. September 18: Bernie Smith contacted Tucker regarding defective inventory they had received. Tucker offered to give Bernie Smith a $500 allowance to keep the defective merchandise. Bernie Smith agreed to the allowance. September 30: Tucker Store received full payment from Bernie Smith for the amount owed less the allowance

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