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Alumco sells product on account under credit terms of 1% / 10 / net 30. Indicate whether each of the following account will receive a
Alumco sells product on account under credit terms of 1% / 10 / net 30. Indicate whether each of the following account will receive a debit (DR) or credit (CR) or no entry (NE) when a customer pays its bill within the discount period:
Cost of Goods Sold
Accounts Receivable
Discounts Returns and Allowances
Revenue
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