Question: West Co sold merchandise to J S Custom Co on account

West Co. sold merchandise to J.S. Custom Co. on account, $20,500, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $10,000. West Co. paid freight of $500 and later received the amount due within the discount period. Journalize West Co.'s and J.S. Custom Co.'s entries for the payment of the amount due.

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  • CreatedSeptember 15, 2015
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