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Record the following transactions on the books of Pharoah Co. (a) On July 1, Pharoah Co. sold merchandise on account to Stacey Inc. for $21,900,

Record the following transactions on the books of Pharoah Co.

(a) On July 1, Pharoah Co. sold merchandise on account to Stacey Inc. for $21,900, terms 4/10, n/30.

(b) On July 8, Stacey Inc. returned merchandise worth $2,400 to Pharoah Co.

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