On October 5, Cullumber Company buys merchandise on account from Oriole Company. The selling price of the goods is $6,370, and the cost to Oriole Company is $3,420. On October 8, Cullumber Company returns defective goods with a selling price of $680 and a scrap value of $440.
Record the transactions of Cullumber Company, assuming a perpetual approach.
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Home » Business » On October 5, Cullumber Company buys merchandise on account from Oriole Company. The selling price of the goods is $6,370, and the cost to Oriole Company is $3,420.