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1. What are the 2 systems for accounting for merchandise transactions? 2. What is themeaning of the following: a) 1/5, n/60 b) n/30; c) n/EOM

1. What are the 2 systems for accounting for merchandise transactions? 2. What is themeaning of the following: a) 1/5, n/60 b) n/30; c) n/EOM 3. How are sales to customer using Master card & Visa recorded

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