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A seller uses a perpetual inventory system, and on April 4, it sells $5.000 in merchandise (its cost is $2.400) to customer on credit terms
A seller uses a perpetual inventory system, and on April 4, it sells $5.000 in merchandise (its cost is $2.400) to customer on credit terms of 3/10, n/30. Complete the two journal entries to record the sales transaction by selecting the sccount names from the drop-down menus and entering the dollar amounts in the debitor credit columns. The first jounal entry is to record the revenue part of the transaction and the second journal entry is to record the cost part. View transaction lit Journal entry worksheet 1 2 Prepare the journal entry to record the revenue part of the transaction. Note: Enter debits before credits Date General Journal Debit Credit April Record entry Clear entry Vlow general journal
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