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ABC Corporation purchased a delivery truck by issuing a 30-day, 6% note with a face amount of $60,000. ABC sold $55,000 of merchandise on account
ABC Corporation purchased a delivery truck by issuing a 30-day, 6% note with a face amount of $60,000.
ABC sold $55,000 of merchandise on account to Great Company, n/eom, FOB shipping point. The cost of merchandise sold was $15,000. ABC uses the net method to account for sales.
The amount of cash in the the petty cash fund is $13. Issued a check to replinish the fund to its original $100 based on the following petty cash receipts: Office Supplies $32 and Misc items, $55.
make the journal entryes please
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