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Question - Presented below are selected transactions of Federer Company. Federer sells in large quantities to other companies and also sells its product in a small retail outlet. March 1. Sold merchandise on account to Lynda Company for CHF3,800, terms 2/10, n/30. 3. Lynda Company returned merchandise worth CHF500 to Federer. 9. Federer collected the amount due from Lynda Company from the March 1 sale. 15. Federer sold merchandise for CHF200 in its retail outlet. The customer used his Federer credit card. 31. Federer added 1.5% monthly interest to the customer's credit card balance. Prepare journal entries for the transactions above.
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