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 20 Taylor Co. returned merchandise in good condition with an invoice price of $1,000 and a cost of $800.
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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 20 Taylor Co. returned merchandise in good condition with an invoice price of $1,000 and a cost of $800.
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________ ________ ________
________ ________ ________
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