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  1. business
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  3. on july 1, willette corp. made a sale of $650,000

On July 1, Willette Corp. made a sale of $650,000 to Luc, Inc. on account....

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Accounting

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On July 1, Willette Corp. made a sale of $650,000 to Luc, Inc. on account. Terms of the sale were 2/10,n/30. Luc makes payment on July 9 . Willette uses the most-likely-amount method and assumes that the customer will not take the discount when accounting for sales discounts. Ignore cost of goods sold and the reduction of inventory: a. Prepare all Willette's journal entries. b. What net sales does Willette report? a. Prepare all Willette's journal entries. (Record debits first, then credits. Exclude explanations from any journal entries.)

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