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 $6,000 and a cost of $4,500 to the Taylor 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 $6,000 and a cost of $4,500 to the Taylor Co.
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________ ________ ________
________ ________ ________
________ ________ ________