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On February 8, ABC Co. sells merchandise on account to XXX inc. for $7,000, terms...

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Accounting

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On February 8, ABC Co. sells merchandise on account to XXX inc. for $7,000, terms 2/10, n/30. On February 16, XXX Inc. pays the amount due. (El 8 de febrero, ABC Co. vendi a crdito mercanca a XXX Inc. por $7,000, con los trminos 2/10, n/30. El 16 de febrero, XXX Inc. pag el balance de la 1. cuenta.) Prepare the entry on ABC Co. books to record the sale. (Prepare la entrada en los libros de ABC Co. para reconocer la venta.) a. Date Accounts Titles and Explanation Debits Credit b. Prepare the entry on ABC Co. books to record the collection. (Prepare la entrada en los libros de ABC Co. para reconocer el cobro). Date Accounts Titles and Explanation DebitsCredit 2. On March 10, Angel Ruiz uses his MNO Co. credit card to purchase merchandise from MNO Co. for S8 500, Qn April 10, Angel Ruiz is billed for the amount due of $8,500. On April 12 Angel Ruiz pays Puiz is billed for the amount due, including interest at

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