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Prepare the Journal entries to record these transactions on Opps Company's books under a perpetual inventory system. On March 2, Novy Company sold $832,000 of
Prepare the Journal entries to record these transactions on Opps Company's books under a perpetual inventory system. On March 2, Novy Company sold $832,000 of merchandise to Opps Company, terms 2/10, n/30. The cost of the merchandise sold was $593,000. On March 6, Opps Company returned $83, 200 of the merchandise purchased on March 2. The cost of the returned merchandise was $60, 300. On March 12, Novy Company received the balance due from Opps Company. Prepare the journal entries to record these transactions on Opps Company's books under a perpetual inventory system. On March 2, Novy Company sold $832,000 of merchandise to Opps Company, terms 2/10, n/30. The cost of the merchandise sold was $593,000. On March 6, Opps Company returned $83, 200 of the merchandise purchased on March 2. The cost of the returned merchandise was S60, 300. On March 12, Novy Company received the balance due from Opps Company
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