The Coral Co. had the following transactions involving the sale of merchandise. You are to prepare the necessary general journal entries using the perpetual inventory system. All sales are subject to credit terms of 1/10, n/30.
-July 16 Sold merchandise with an invoice price of $3,500 and a cost of $2,000 to Carter and Co.
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The Answer of The Coral Co. had the following transactions involving the sale of merchandise. You are to prepare the necessary general journal entries using the perpetual inventory system. All sales are subject to credit terms of 1/10, n/30.
-July 16 Sold merchandise with an invoice price of $3,500 and a cost of $2,000 to Carter and Co.
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________ ________ ________
________ ________ ________
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