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Journalize the transactions for the seller

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Question - Turner Company uses a perpetual inventory system.

July 3 Sold $15,400 of merchandise on account to (Smith LLC), credit terms are 2/10, n/30. Cost of goods is $9,300.

July 7 Received a $750 sales return from the customer (Smith LLC). Cost of the goods is $435.

July 12 Turner Company receives payment for the customer (Smith LLC) for the amount due from the July 3 sale.

Journalize the (3) transactions for the Seller (Turner Company) and the (3) transactions for the buyer (Smith LLC).

Reference no: EM131895878

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