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  3. journalize the following merchandise transactions:

Journalize the following merchandise transactions: Sold merchandise on account, $18,000 with terms n/30. The cost...

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Accounting

Journalize the following merchandise transactions:

Sold merchandise on account, $18,000 with terms n/30. The cost of the goods sold was $10,800.

Received payment.

Refunded $600 to customer for defective merchandise that was not returned.

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