Question: (Appendix) SALES RECORDED NET. Using the data in Exercise 6-27, assume that Nevada records sales gross. LO8 REQUIRED: 1. Prepare the entries to record this

(Appendix) SALES RECORDED NET. Using the data in Exercise 6-27, assume that Nevada records sales gross. LO8 REQUIRED:

1. Prepare the entries to record this sale in Nevada’s journal.

2. Prepare the entry for Nevada’s journal to record receipt of cash for the sale within the discount period.

3. Prepare the entry for Nevada’s journal to record receipt of cash for the sale after the discount period.

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