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ASAP On April 2, Kelvin sold $40500 of inventory items on credit with the terms 1/10, net 30. Payment on $24300 sales was recelved on
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On April 2, Kelvin sold $40500 of inventory items on credit with the terms 1/10, net 30. Payment on $24300 sales was recelved on April 8 and the remaining payment on $16200 sales was received on April 27. Assuming Kelvin uses the net method of accounting for sales discounts, the entry recorded on April 27 would include a: O debit to Cash and credit to Sales Discounts Forfeited for $405 O debit to Cash and credit to Accounts Receivable for $16038. debit to Cash for $16200 and credit to Sales Discounts Forfeited for $162. O debit to Accounts Receivable and credit to Sales Revenue for $40500 Step by Step Solution
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