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rk Required information The following information applies to the questions displayed below,] Campus Stop. Inc., is a student co-op. Campus Stop uses a perpetual inventory
rk Required information The following information applies to the questions displayed below,] Campus Stop. Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $141,870) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $658). c. Sold merchandise (costing $4,500) to a customer on account with terms n/30. d. Collected half of the balance owed by the customer in (c). e. Granted a partial allowance relating to credit sales the customer in (c) had not yet 1,600 10,000 5,000 1,680 paid. 3. Prepare journal entries to record transactions (al- (e). (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) list View 78 of 15 E Next> Required information Journal entry worksheet 2 Record the cash sales of $253,000. Note: Enter debits before credits. Transaction General Journal Record entry Next 7 8 of 15 7-8 of 15 78, of 15
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