Question: Current Attempt in Pr Cheyenne Co. uses the net method to account for cash discounts. On June 1, 2020, it made sales of $56,400

Current Attempt in Pr Cheyenne Co. uses the net method to account

Current Attempt in Pr Cheyenne Co. uses the net method to account for cash discounts. On June 1, 2020, it made sales of $56,400 with terms 4/15, n/45. On June 12, 2020, Cheyenne received full payment for the June 1 sale. Prepare the required journal entries for Cheyenne Co. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

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