Neslund Ornamentals offered a 2% trade discount to Parsons Retail Outlet for all purchases over...
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Accounting
Neslund Ornamentals offered a 2% trade discount to Parsons Retail Outlet for all purchases over $200,000. Parsons Retail Outlet purchased $300,000 from Neslund Ornamentals on account. Neslund uses the periodic inventory system. Which of the following is the journal entry made by Neslund Ornamentals to recognize the sale and the 2% trade discount?
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