On August 7, Imports to You Co. sold merchandise with a cost of $250 for $600 to

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On August 7, Imports to You Co. sold merchandise with a cost of $250 for $600 to Jade Biggs, who used an Imports to You Co. credit card for payment. On August 15, Jade returned $100 of merchandise that was dam- aged and the goods were scrapped. On September 7, Imports to You Co. recorded interest on the credit card balance owing on Jade Biggs's account. Imports to You Co. charges 18% on any balance owing on its credit cards. Prepare journal entries to record the above transactions. (Round answer to the nearest cent.)
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Accounting Principles

ISBN: 978-1119048503

7th Canadian Edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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