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On March 1, Bates Board Shop sells 300 surfboards to a local lifeguard station at...

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Accounting

On March 1, Bates Board Shop sells 300 surfboards to a local lifeguard station at a sales price of $400 per board. The cost to Bates is $140 per board. The terms of the sale are 3/15, n/30, with an invoice date of March 1.
Create the journal entries for Bates to recognize the following transactions:
a. the initial sale
b. the subsequent customer payment on March 10
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