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Business, 16.10.2020 14:01 raulflores01

Record the following transactions for Sunland Company using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. a. On March 2, Sunland Company sold $928,000 of merchandise to Blossom Company on account. The cost of the merchandise sold was $626,400.
b. On March 6, Blossom Company returned $162,400 of the merchandise purchased on March 2. The cost of the merchandise returned was $109,040.
c. On March 12, Sunland Company received the balance due from Blossom Company.

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