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Record the following transactions on the books of RAS Co. (a) On July 1, RAS Co. sold merchandise on account to Waegelein Inc. for $16,300,

Record the following transactions on the books of RAS Co.

(a) On July 1, RAS Co. sold merchandise on account to Waegelein Inc. for $16,300, terms 2/10, n/30.

(b) On July 8, Waegelein Inc. returned merchandise worth $4,800 to RAS Co.

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