Journalize the following merchandise transactions: a. Sold merchandise on account, $78,600 with terms 2/10, n/30. The cost

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Journalize the following merchandise transactions:

a. Sold merchandise on account, $78,600 with terms 2/10, n/30. The cost of the merchandise sold was $47,200.

b. Received payment less the discount.

c. Issued a $900 credit memo for damaged merchandise. The customer agreed to keep the merchandise.

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Accounting

ISBN: 9781337902687

28th Edition

Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider

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Question Posted: Apr 06, 2021 05:48 AM

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Journalize the following merchandise transactions: a. Sold merchandise on account, $78,600 with terms 2/10, n/30. The cost

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a Accounts Receivable 78600 Merchandise Inventory 47200 Sales Revenue 78600 b Cash 77820 Discounts 1...View the full answer

Accounting

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