Question: Long Corporation is a fabric manufacturing company On January 20
Long Corporation is a fabric manufacturing company. On January 20, Long Corporation made sales to Lyndsay’s Lace in the amount of $15,000 with terms of 2/10, n/30. Lyndsay’s Lace paid Long Corporation on January 28. Long Corporation records accounts receivable and sales at the gross price. Prepare the related journal entries for Long Corporation.
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