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6) ABC Company sold DEF company shoes for $67,000 on account. The shoes cost ABC $30,000. Write the journal entries for both ABC and DEF

  • 6) ABC Company sold DEF company shoes for $67,000 on account. The shoes cost ABC $30,000. Write the journal entries for both ABC and DEF showing the sale by ABC followed by the receipt of payment & the purchase by DEF followed by the payment to ABC.
  • 7) ABC Company sold DEF company shoes for $67,000 on account on terms 2/10 net 30. The shoes cost ABC $30,000. Write the journal entries for both ABC and DEF showing the sale by ABC followed by the receipt of payment & the purchase by DEF followed by the payment to ABC. They paid with the discount period.

Please create journal entries.

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