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Question - The Alchemist Store supplies books to the public. The following transactions took place during the month of October 2021:
14 October: Sold goods on account to Walid's Book Store for $3,600, terms 2/10, n/30. The cost of goods sold was $2,800.
16 October: The business forwarded a credit note for $280 to Walid's Book Store covering part of the goods sold on 14 October, which cost $250, and were returned by Walid's Book Store as a wrong title.
22 October: The Alchemist Store received a cheque from Walid's Book Store in full settlement for the above transactions.
Required - Using the perpetual inventory system, record the above transactions in the general journal of The Alchemist Store. Narrations are not required.
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