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Question
The following balances were extracted from the books of melody Co. on the 31 August 2018:
$
Sales 102,500
Gross profit 25,470
Sales returns 45,470
Purchases 39,600
Inventory at 1 Sept 2017 7,543
Carriage on purchases 1,010
Carriage on sales 8,600
Import duties 545
Discount received 2,100
Discount allowed 4,850
Inventory at 31 August 2018 5,790
Calculate the amount of purchases returns as at 31 August 2018.
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