Solved: The cost of the merchandise returned was 2850 journalize, Cost Accounting

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The cost of the merchandise returned was 2850 journalize

Transactions for buyer and seller

Sundance Co. sold merchandise to Butter field Co. on account, $16,800, terms 2/15, n/30.The cost of the merchandise sold is $12,600. Sundance Co. issued a credit memo for $3,800 for merchandise returned and later received the amount due within the discount period. The cost of the merchandise returned was $2,850. Journalize Sundance Co.'s and Butter field Co.'s entries for the payment of the amount due.

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Cost Accounting: The cost of the merchandise returned was 2850 journalize

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Cost Accounting: The cost of the merchandise returned was 2850 journalize

Reference No:- TGS0820741

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