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Question: Sundance Systems has the following transactions during July.

July 5 Purchases 20 laptop computers on account from Red River Supplies for $1,500 each, terms 3/10, n/30.

July 8 Returns to Red River two laptops that had defective hard drives.

July 13 Pays the full amount due to Red River.

July 28 Sells remaining 18 laptops purchased on July 5 for $2,000 each on account.

Required: Record the transactions of Sundance Systems, assuming the company uses a perpetual inventory system.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M92329686

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