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Burgundy Corp. told jazz flutes to a customer for $3,000 on credit on January 1. The customer paid Burgundy Corp. the amount due on February
Burgundy Corp. told jazz flutes to a customer for $3,000 on credit on January 1. The customer paid Burgundy Corp. the amount due on February 1. Under the accrual basis of accounting, how should Burgundy Corp. record the February 1 transaction? Debit to Cash and a credit to Sales Revenue Debit to Cash and a credit to Accounts Receivable Debit to Sales Revenue and a credit to Cash Debit to Cash and a credit to Accounts Payable
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