On January 10, 2025, Masterson Co. sold merchandise on account to Tompkins for $8,000, terms n/30. On
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On January 10, 2025, Masterson Co. sold merchandise on account to Tompkins for $8,000, terms n/30. On February 9, Tompkins gave Masterson Co. a 7% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the accounts receivable. (Omit cost of goods sold entries.)
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Accounting Tools For Business Decision Making
ISBN: 9781119791058
8th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell
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