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Your answer is partially correct. On October 5, Marin Company buys merchandise on account from Cullumber Company. The selling price of the goods is

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Your answer is partially correct. On October 5, Marin Company buys merchandise on account from Cullumber Company. The selling price of the goods is $6,370, and the cost to Cullumber Company is $3,420. On October 8, Marin returns defective goods with a selling price of $680 and a scrap value of $440. Record the transactions of Marin Company, assuming a perpetual approach. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Oct. 5 Sales Revenue Debit 6370 Oct. 8 Sales Returns and Allowances 680 Accounts Receivable Credit 6370 680

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