Essay
Toyz's Retail Store sold $900 of merchandise to Ebony Inc. on April 3, terms. On April 8, Ebony returned $200 of the merchandise that was defective. The original merchandise sold cost Toyz $600, but of this amount, $70 was returned. Toyz received payment from Ebony on April 10. What amount of sales and cost of goods sold should Toyz record for these transactions?
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Sales = $900 - $200 ...View Answer
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