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Accounting
The following information applies to the questions displayed below. Castillo Styling is a wholesaler of hair supplies. Castillo Styling uses a perpetual inventory system. The following transactions summarized have been selected for analysis: a Sold merchandise for cash cost of merchandise $ $ b Received merchandise returned by customers as unsatisfactory but in perfect condition for cash refund original cost of merchandise $ c Sold merchandise costing $ to a customer on account with terms n d Collected half of the balance owed by the customer in c e Granted a partial allowance relating to credit sales the customer in c had not yet paid. f Anticipate further returns of merchandise costing $ after yearend from sales made during the year. Prepare journal entries to record transactions af
The following information applies to the questions displayed below.
Castillo Styling is a wholesaler of hair supplies. Castillo Styling uses a perpetual inventory system. The following transactions summarized have been selected for analysis:
a Sold merchandise for cash cost of merchandise $ $
b Received merchandise returned by customers as unsatisfactory but in perfect condition for cash refund original cost of merchandise $
c Sold merchandise costing $ to a customer on account with terms n
d Collected half of the balance owed by the customer in c
e Granted a partial allowance relating to credit sales the customer in c had not yet paid.
f Anticipate further returns of merchandise costing $ after yearend from sales made during the year.
Prepare journal entries to record transactions af
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