Restin Co. uses the gross method to record sales made on credit. On June 1, 2010, it

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Restin Co. uses the gross method to record sales made on credit. On June 1, 2010, it made sales of $50,000 with terms 3/15, n/45. On June 12, 2010, Restin received full payment for the June 1 sale. Prepare the required journal entries for Restin Co.

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Intermediate Accounting

ISBN: 978-0470423684

13th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

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Question Posted: Feb 15, 2011 05:52 AM

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Restin Co. uses the gross method to record sales made on credit. On June 1, 2010, it

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Intermediate Accounting

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