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Prepare journal entries to record each transaction. 19 Jun: Sold a $2,500 watch on account,...

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Accounting

Prepare journal entries to record each transaction. 19 Jun: Sold a $2,500 watch on account, terms 2/10, n/30. Tourneau sold the watch F.O.B. destination. $360 of freight charges were paid in cash. (Since they use periodic inventory, they do not record the matching entry for expense at the time of the sale)

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