Question: Lab Assignment - 75 Question 3 of 7 Current Attempt Progress Sunland Company buys merchandise on account from Marigold Company. The selling price of the

Lab Assignment - 75 Question 3 of 7 Current Attempt Progress

Sunland Company buys merchandise on account from Marigold Company. The selling price

Lab Assignment - 75 Question 3 of 7 Current Attempt Progress Sunland Company buys merchandise on account from Marigold Company. The selling price of the goods is $790, and the cost of the goods is $430. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Sunland Company (To record credit purchase of inventory) TUTTU Cuit pururat UT VETTLUTYT Marigold Company (To record credit sale) (To record cost of merchandise sold)

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