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Oct. 12: Sold computers on account for $9,200 to a customer, terms 1/15, n/45. The...

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Accounting

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Oct. 12: Sold computers on account for $9,200 to a customer, terms 1/15, n/45. The cost of the computers is $5,520. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts and Explanation Debit Credit Oct. 12 Now journalize the expense related to the October 12 sale. Date Accounts and Explanation 6 More Info Debit Credit Oct. 12 October 12 Sold computers on account for $9,200 to a customer, terms 1/15, n / 45. The cost of the computers is $5,520. 26 Received payment from the customer on balance due. Print Done Oct. 26: Received payment from the customer on balance due. Date Accounts and Explanation Oct. 26 Debit Credit

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