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Record the purchase on the books of Kyle

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Question - Garth Company sold goods on account to Kyle Enterprises with terms of 2/10, n/30. The goods had a cost of $600 and a selling price of $1,100. Both Garth and Kyle use a perpetual inventory system.

Required -

1. Record the sale on the books of Garth.

2. Record the purchase on the books of Kyle.

Reference no: EM132527877

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