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abbey co. sold merchandise to gomez co on account 40,000 terms net 45. the cost of the merchandise sold is 28,000. Abbey Co issued a

abbey co. sold merchandise to gomez co on account 40,000 terms net 45. the cost of the merchandise sold is 28,000. Abbey Co issued a credit memo for 4,000 for merchandise returned that originally cost 2,500. gomez paid the invoice. prepare the necessary journal entries.

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