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Journalize the transaction on the books of both companies

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1. Hollins Company buys merchandise on account from Gordon Company. The selling price of the goods is $780, and the cost of the goods is $520. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. 

Reference no: EM131143786

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Journalize the transaction on the books of both companies : Hollins Company buys merchandise on account from Gordon Company. The selling price of the goods is $780, and the cost of the goods is $520. Both companies use perpetual inventory systems.
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