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Using the perpetual inventory system, journalize the entries for the following selected transactions: A. Sold merchandise on account, for $12,000. The cost of the merchandise
Using the perpetual inventory system, journalize the entries for the following selected transactions:
A. Sold merchandise on account, for $12,000. The cost of the merchandise sold was $6,500.
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B. Sold merchandise to customers who used MasterCard and VISA, $9,500. The cost of the merchandise sold was $5,300. |
C. Sold merchandise to customers who used American Express, $2,900. The cost of the merchandise sold was $1,700. |
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