On October 5, Loomis Company buys merchandise on account from Brooke Company. The selling price of the goods is $5,000, and the cost to Brooke Company is $3,100. On October 8, Loomis returns defective goods with a selling price of $650 and a fair value of $100. Record the transactions on the books of Loomis Company.

Assume information similar to that in DO IT! 5-2: On October 5, Loomis Com- pany buys merchandise on account from Brooke Company. The selling price of the goods is $5,000, and the cost to Brooke Company is $3,100. On October 8, Loomis returns defec- tive goods with a selling price of $650 and a fair value of $100.

Record the transactions on the books of Brooke Company.

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answer; (10%) commission;

answer; ///(d); determining who competes most closely   with whom evaluating whether industry driving forces and competitive pressure favor some strategic groups and hurt others, and ascertaining whether the profit potential of different strategic groups varies due to the strengths and weaknesses in each groups respective market positions;

answer; closing the loop;