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Author Question: Stella, Inc. purchased 75 telescopes for $25 each from Luna Co. When they unpacked the telescopes, ... (Read 77 times)

Frost2351

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on: Feb 18, 2020
Stella, Inc. purchased 75 telescopes for $25 each from Luna Co. When they unpacked the telescopes, Stella found that 20 of the telescopes were damaged in shipping. Luna offers to take them back, or provide an allowance of $300. How would the journal entries differ if Stella chose to take the allowance instead of return the telescopes?
◦ The company would debit and credit the same accounts, but for a lesser amount.
◦ The company would debit and credit the same accounts, but for a greater amount.
◦ The company would debit the Allowance account instead of Purchase Returns.
◦ There would be no difference in journal entries.
Financial Accounting ¦ Kemp, Waybright ¦ 5th Edition
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Marked as best answer by Frost2351 on Feb 18, 2020

trampas

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Reply #1 on: Feb 18, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Frost2351

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Reply 2 on: Feb 18, 2020
Thanks for the timely response, appreciate it

tkempin

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Reply 3 on: Yesterday
Excellent

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