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Posted on Jul 27, 2024

ABC sells merchandise to their customer, x Y Z . The sales price is $ 5 0 0 . ABC's cost is $ 2 0

ABC sells merchandise to their customer,

x Y Z .

The sales price is $

500 .

ABC's cost is $

200 .

The sale is on account. The terms are net

30 .

What account should be debited in the first part of the journal entry?

Accounts receivable

Cash

Sales revenues

Inventory

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