Question: Prepare check payable for ABC Corp. for a shipment received 7 days ago. The invoice amount was 43301.00. It qualifies for a 2% discount (2/10,

Prepare check payable for ABC Corp. for a shipment received 7 days ago. The invoice amount was 43301.00. It qualifies for a 2% discount (2/10, net 30).

How would the journal entry for this discount be recorded?

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