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Prepare the journal entries to record the following transactions on Larkspur, Inc's books using a perpetual inventory system. On March 2, Novak Company sold $903.000

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Prepare the journal entries to record the following transactions on Larkspur, Inc's books using a perpetual inventory system. On March 2, Novak Company sold $903.000 of merchandise on account to Larkspur. Inc, terms 2/10,n/30. The cost of the merchandise sold was $580,000. (Credit account titles are automatically indented when amount is entered. Do not indent monually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) On March 12, Novak Company received the balance due from Larkspur, Inc.. (Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) On March 6, Larkspur, Inc returned $90,300 of the merchandise purchased on March 2 . The cost of the returned merchandise was \$58,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts.)

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