Question: Presented below is information from Lopez Computers Incorporated. July 1 Sold $26,700 of computers to Smallwood Company with terms 2/15, n/60. Lopez uses the gross

Presented below is information from Lopez Computers Incorporated. July 1 Sold $26,700 of computers to Smallwood Company with terms 2/15, n/60. Lopez uses the gross method to record cash discounts. 10 Lopez received payment from Smallwood for the full amount owed from the July transactions. 17 Sold $237,300 in computers and peripherals to The Clark Store with terms of 1/10, n/30. 30 The Clark Store paid Lopez for its purchase of July 17. Prepare the necessary journal entries for Lopez Computers. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 1 July 10 July 17 July 30

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