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A seller uses a perpetual inventory system and on April 4 it sells $5,000 in merchandise with a cost of $2,400 to a customer

 

A seller uses a perpetual inventory system and on April 4 it sells $5,000 in merchandise with a cost of $2,400 to a customer on credit terms of 3/10, n/30 Complete the two journal entries to record the sales transaction by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. The first journal entry is to record the revenue part of the transaction and the second journal entry is to record the cost part View transaction list Journal entry worksheet < 1 2 Prepare the journal entry to record the revenue part of the transaction. Note: Enter debits before credits Date April 04 General Journal Debit Credit < 2 Prepare the journal entry to record the revenue part of the transaction. Note: Enter debits before credits. Date April 04 Record entry General Journal Clear entry Debit Credit View general journal Prepare the second journal entry is to record the cost part. Note: Enter debits before credits. Date April 04 Record entry General Journal Clear entry Debit Credit View general journal

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