Question: Sundance Co sold merchandise to Butterfield Co on account 16 800
Sundance Co. sold merchandise to Butterfield Co. on account, $16,800, terms 2/15, n/30. The cost of the merchandise sold is $12,600. Sundance Co. issued a credit memo for $3,800 for merchandise returned and later received the amount due within the discount period. The cost of the merchandise returned was $2,850. Journalize Sundance Co.'s and Butterfield Co.'s entries for the payment of the amount due.
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