Question: On January 16 two credit sales were made one for 200

On January 16, two credit sales were made, one for $200 and one for $300. Terms for both sales were 3/15, n/30. Cash for the $200 sale was collected on January 25; cash for the $300 sale was collected on February 14. Make all journal entries necessary to record both the sales and the cash collections. Use the gross method of accounting for sales discounts.

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  • CreatedApril 07, 2012
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