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The transactions below took place at Colorado Outdoor Adventures, a retail business that sells outdoor clothing and camping equipment. Indicate the numbers of the general
The transactions below took place at Colorado Outdoor Adventures, a retail business that sells outdoor clothing and camping equipment. Indicate the numbers of the general ledger accounts that would be debited and credited to record each transaction. Debit Credit Date May Transactions Sold merchandise on credit: the transaction involved sales Accounts receivable May Received checks from credit customers on account. May 3 Accepted a return of merchandise from a credit customer; the original sale involved sales tax. May Sold merchandise for cash; the transaction involved sales tax May Gave an allowance to a credit customer for damaged merchandise; the original sale involved sales tax. May Provided a cash refund to a customer who returned merchandise; the original sale was made for cash and involved sales tax
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