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Record transactions of selling company. DO IT ! 5 . 3 ( L 0 3 ) , AP On October 5 , Iresson

Record transactions of selling company.

DO IT! 5.3 (L03), AP On October 5, Iresson Company burys merchandise on account from Lasse Company. The

selling price of the goods is $5,000, and the cost to Lasse Company is $3,000. On October 8, Iresson returns

defective goods with a selling price of $640 and a fair ralue of $240. Record the transactions on the books of Lasse

Company.

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