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Prepare the journal entries to record the following transactions on Carla Vista Company's books using a perpetual inventory system. On March 2, Carla Vista Company
Prepare the journal entries to record the following transactions on Carla Vista Company's books using a perpetual inventory system. On March 2, Carla Vista Company sold $954.000 of merchandise on account to Flint Company, terms 4/10,n/30. The cost of the merchandise sold was $565,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record credit sale) (To record cost of merchandise sold) On March 6, Flint Company returned $95.400 of the merchandise purchased on March 2. The cost of the returned merchandise was $59,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record merchandise returned) (To record cost of merchandise returned) On March 12, Carla Vista Company received the balance due from Flint Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit
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