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Question 6 of 10 - / 10 111 View Policies Current Attempt in Progress On...

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Question 6 of 10 - / 10 111 View Policies Current Attempt in Progress On January 6, H55 Limited sold merchandise on account to Singh Inc. for $44,700, terms n/30. The merchandise originally cost H55 $27,600. On January 25, Singh paid the amount due. Both H55 and Singh use a perpetual inventory system. (a) Prepare the entries on H55's books to record the sale and related collection. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 6 (To record sales) (To record cost of merchandise sold) Jan. 25 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit

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