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5. Prepare the journal entries for the following transactions (12 Points): On May 1, Apple Inc. sold $1,000 products to customer on account. The value

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5. Prepare the journal entries for the following transactions (12 Points): On May 1, Apple Inc. sold $1,000 products to customer on account. The value of product sold was $750. Apple Inc. implements the FOB destination term and the delivery fees charged by carrier was $15. The credit term implemented by the company is: 2/15, n/45. (I) Please prepare the THREE journal entries for the transaction happened on May 1. (2) The customer paid cash on May 14. Please journalize the related entries for Apple Inc. on May 14

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