On 8/2 Farm King orders $20,000 of merchandise on account from Feed N Seed. Feed...
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Accounting
On 8/2 Farm King orders $20,000 of merchandise on account from Feed N Seed. Feed N Seed accepts the order and sends an invoice with the terms 3/10,n/30. On 8/7 Farm King pays Feed N Seed during the discount period, Show the journal entry to record the receipt of the invoice (on August 2) and payment for the merchandise (on August 7). 8/2 Debit Select) $ [Select] Credit Select $ [Select] 8/7 Debit [Select] $ [Select) Credit $ [Select)
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