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Blue Deals sells household furniture and appliances. The manager decided to sell a couch to a customer at a 75% discount with 9 months
Blue Deals sells household furniture and appliances. The manager decided to sell a couch to a customer at a 75% discount with 9 months to pay, no interest and no deposit, because the couch was no longer in style and had been sitting in the back of the warehouse for over 2 years. Normally, the maximum discount is 10% and customers are never given more than 30 days to pay. The final sale price of the couch was $630. What would be the appropriate journal entry when the customer picks up the couch?
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Step: 1
To record the journal entry when the customer picks up the couch we need to calculate the normal sel...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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