Lindley Enterprises sells hand-woven rugs. Paige Corporation is a regular customer of Lindley Enterprises. On June 30, Paige Corporation purchased 500 rugs from Lindley Enterprises for $300,000 on credit. On August 15, Paige Corporation paid Lindley Enterprises in full on its $300,000 balance. Prepare the related journal entries for Lindley Enterprises.
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