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AG Inc. made a $80,000 sale on account with the following terms: 3/15, n/30. AG receives $40,000 of cash within the discount period and the

  1. AG Inc. made a $80,000 sale on account with the following terms: 3/15, n/30. AG receives $40,000 of cash within the discount period and the remaining amounts after the discount period.
  2. Record all JEs using the net method.

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