Record the following transactions for Verbatim Company. 1. On August 4, Verbatim sold merchandise on...
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Accounting
Record the following transactions for Verbatim Company.
1. On August 4, Verbatim sold merchandise on account to Reedy Company for $450, terms 2/10, n/30.
2. On August 7, Verbatim granted Reedy a sales allowance and reduced the cost of the merchandise by $50 because some of the goods were slightly damaged.
3. On August 12, Reedy paid the account in full.
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