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Record the sale and sales return of merchandise

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Question - Merchandise inventory of $2,800 costing $1,568 was sold in the province of Quebec. Assume the company uses a perpetual inventory system and the earnings approach to revenue recognition. The QST is 9.975%. Half of the shipment is returned because the incorrect sizes have been shipped. Record the sale and sales return of merchandise on the seller's books.

Reference no: EM132521767

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