Journalize the following transactions. Assume the perpetual inventory system. 201X Apr. 5 Sold merchandise for $1,250 cash.
Question:
201X
Apr. 5 Sold merchandise for $1,250 cash. The cost of the merchandise was $850.
16 Made refunds to cash customers for defective merchandise, $70. The cost of defective merchandise was $25.
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Related Book For 
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780133791006
13th Edition
Authors: Jeffrey Slater
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