On 2/19/17 Solana Company sells and delivers inventory to a customer. The total sales amount...
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Accounting
On 2/19/17 Solana Company sells and delivers inventory to a customer. The total sales amount is $12,000, and Solana offers terms of 2/10, n/40 for the sale. Assuming Solana uses the net method to account for any cash discounts, what journal entry would Solana record on 2/19/17 (the date of the sale)?
Please clearly label your journal entry, as follows:
Debit: [account name] [amount]
Credit: [account name] [amount]
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