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Current Attempt in Progress On January 6, Golden Limited sold merchandise on account to...

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Accounting

Current Attempt in Progress
On January 6, Golden Limited sold merchandise on account to Singh Inc. for $45,000, terms n30. The merchandise originally cost Golden $28,200. On January 25, Singh paid the amount due. Both Golden and Singh use a perpetual inventory system.
(a)
Your answer is partially correct.
Prepare the entries on Golden's books to record the sale and related collection. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.)
Date
Account Titles and Explanation
Accounts Recelvable
(To record sales)
Jan. 25
Debit
Credit
Jan. 6
Accounes Recelvable
Accounts Recelvable
(To record cost of merchandise sold)
1
I
eTextbook and Media
List of Accounts
Attempts: 1 of 3 used
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