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Journalize the merchandise transactions

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Reference no: EM132751110

Problem - Journalize the following merchandise transactions:

Sold merchandise on account, $72,500 with terms 2/10, n/30. The cost of the goods sold was $43,500.

Received payment less the discount.

Refunded $1,000 to customer for defective merchandise that was not returned.

Reference no: EM132751110

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