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This question: 14 point(s) posable Submit test Exclude explanations from journai entries. Assume the company...

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Accounting

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This question: 14 point(s) posable Submit test Exclude explanations from journai entries. Assume the company records sales at the net amount. Round al numbers fo the nearpst wholo dotar.) (i) (Click the ibon to view the transactions.) Feb. 3: Purchased \$2,900 of merchandise imventory on account under terms 3/10, NEOM and FOB shipping point from Shitonit Jewois Feb 7: Returned 5300 of defective merchandise purchased on Fetruary 3 eb. 10: Sold merchandise inventory on account for $4,800 to Tinsle Town. Payment terms were 3/15, n/30. These goods cost the company $2,400. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. Wo will do that in the following ztoo More info Feb. 28: Received cash from Tinsle Town in full settlement of their debt

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