Question: Based on the information below, journalize the entries for the Seller. The seller uses a perpetual inventory system. (a) Seller sells Buyer on account

Based on the information below, journalize the entries for the Seller. The

Based on the information below, journalize the entries for the Seller. The seller uses a perpetual inventory system. (a) Seller sells Buyer on account merchandise costing $245 for $645, terms 2/10, net 30, FOB destination. The freight charge is $45. (b) Buyer retums as defective $145 worth of the $645 merchandise received. The seller's cost is $70. (c) Buyer pays within the discount period.

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