Record the following transactions on the books of RAS Co.
(a) On July 1, Cullumber Co. sold merchandise on account to Waegelein Inc. for $15,300, terms 2/10, n/30.
(b) On July 8, Waegelein Inc. returned merchandise worth $3,500 to Cullumber Co.
(c) On July 11, Waegelein Inc. paid for the merchandise.
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