Chapter 5-Sales Journal Entries Journalize the following merchandise transactions: 1. Sold merchandise on account, $82,000...
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Accounting
Chapter 5-Sales Journal Entries Journalize the following merchandise transactions: 1. Sold merchandise on account, $82,000 with terms 2/10, net 30. 2. The cost of the merchandise sold was $68,600. 3. Received payment from the customer within the discount period. Calculations: Journal entries: Account Debit Credit Record sale at discounted value Record cost of merchandise sold: Record payment received from customer: Page 1 of 10
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