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Arevalo Machinery Company sold a custom production mill for $480,000, receiving a $60,000 down payment and a 12% note for the balance. The journal entry

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Arevalo Machinery Company sold a custom production mill for $480,000, receiving a $60,000 down payment and a 12% note for the balance. The journal entry to record this sale would include a: Debit to cash discount. Debit to note receivable. Credit to cash. Credit to note receivable

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