Recording sales discounts On July 1, Pams Pizza Supply sold 100 pounds of pepperoni for...
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Accounting
Recording sales discounts
On July 1, Pams Pizza Supply sold 100 pounds of pepperoni for $800 on account to a local pizza parlor. The terms of the sale were 2/1-0, n/30. The pizza parlor pays Pams Pizza Supply in full on July 7.
Required: Prepare the entries that Pam would make to record the sale of the receipt of the payment using T-Accounts.
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