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Suppose Longriver.com sells 4,500 books on account for $14 each (cost of these books is $37.800) on October 10, 2016 to Books and More
Suppose Longriver.com sells 4,500 books on account for $14 each (cost of these books is $37.800) on October 10, 2016 to Books and More One hundred of these books (cost $840) were damage in shipment, so Longer.com later receive the damaged goods from Books and More as sales retums on October 13, 2018 (Assume both companies use a perpetual inventory system and that sales are recorded at the amount) Read the requirements Requirement 1. Journal Books and More's October 2018 bansactions (econd debits first, then credits Exclude explanation from mal entries) Oct 10: Books and More purchased 4,500 books on account for $14 each from Longriver.com Date Oct. 10 Accounts Debit Oct 13 Books and More returmed one hundred books damaged in shipment Date Oct 13 Accounts Credit Deb Credit Requirement 2. Journale Longer.com's October 2018 transactions. The company estimates saset at the end of each month (woord debit at the credits Exclusione homm Oct. 10: The sale of 4.500 books on account for $14 each cost of these books is $37800) Books and More Nest
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