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Record the transactions on the books of obrien company

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Reference no: EM131772317

Question - On October 5, Lane Company buys merchandise on account from O'Brien Company. The selling price of the goods is $5,970, and the cost to O'Brien Company is $3,920. On October 8, Lane returns defective goods with a selling price of $860 and a scrap value of $320. Record the transactions on the books of O'Brien Company.

Reference no: EM131772317

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