Wildhorse Company buys merchandise on account from Novak Company. The selling price of the goods...
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Accounting
Wildhorse Company buys merchandise on account from Novak Company. The selling price of the goods is $1,330, and the cost of the goods is $980. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
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