November 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $260 and cost $130, the items were not damaged and were returned to inventory. Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method.

November 16 Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $260 and cost $130, the items were not damaged and were returned to inventory. Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method.

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 5PB

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