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Record the appropriate transactions on Kipawa books

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Question - On September 3, Kipawa Corporation sold 30,000 of merchandise to Kipling Inc., terms n/30. Kipawa uses a perpetual inventory system and the cost of the goods sold was $18,000. Kipawa's management expects a return rate of 5%. Record the appropriate transactions on Kipawa's books assuming that the company uses a perpetual inventory system.

Reference no: EM133113202

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