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Record the journal entry on the return date

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Question - On January 15, 2020, Company Eames sold 70 bicycles to a customer at the price of $80 each, in cash. The cost of a bicycle to Eames was $55 each. On March 17, 2020, 35 bicycles were returned.

Record the journal entry on the return date. (Assume all journal entries related to the sale of the bicycles were recorded correctly on the date of sale). Hint: There are two journal entries.

Reference no: EM132800872

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