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On February 3 , Smart Company sold merchandise in the amount of $ 4 , 8 0 0 to Truman Company, with credit terms of
On February Smart Company sold merchandise in the amount of $ to Truman Company, with credit terms of n The cost of the items sold is $ Smart uses the perpetual inventory system and the gross method. Truman pays the invoice on February and takes the appropriate discount. The journal entry that Smart makes on February is:
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