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Prepare a tabular summary to record transactions for alonzo

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Reference no: EM132952731

The following transactions are for Alonzo Company.

1. On December 3, Alonzo Company sold $500,000 of merchandise to Artis Co. on the account. The cost of the merchandise sold was $330,000.

2. On December 8, Artis Co. returned $25,000 of merchandise purchased on December

3. The cost of the goods was $16,000.3.On December 13, Alonzo Company received the balance due from Artis Co.

Problem 1: Prepare a tabular summary to record these transactions for Alonzo Company using a perpetual inventory system.

Reference no: EM132952731

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