Business, 16.10.2020 09:01 kiarajack456

Be5-4, Prepare the journal entries to record the following transactions on Novy Company’s books using a perpetual inventory system. (a) On March 2, Novy Company sold $900,000 of merchandise to Opps Company, terms 2/10, n/30. The cost of the merchandise sold was $590,000. (b) On March 6, Opps Company returned $90,000 of the merchandise purchased on March 2. The cost of the returned merchandise was $62,000. (c) On March 12, Novy Company received the balance due from Opps Company. be5-5, From the information in BE5-4, prepare the journal entries to record these trans- actions on Opps Company’s books under a perpetual inventory system.

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Be5-4, Prepare the journal entries to record the following transactions on Novy Company’s books usin...

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