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Check my work ProBuilder has the following June 30 fiscal-year-end unadjusted balances: Allowance for Sales Discounts, $0, and Accounts Receivable, $11,700. Of the $11,700 of
Check my work ProBuilder has the following June 30 fiscal-year-end unadjusted balances: Allowance for Sales Discounts, $0, and Accounts Receivable, $11,700. Of the $11,700 of receivables, $2,850 are within a 2% discount period, meaning that it expects buyers to take $57 in future discounts arising from this period's sales. a. Prepare the June 30 fiscal-year-end adjusting journal entry for future sales discounts. View transaction list Journal entry worksheet Record the expected sales discounts. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Record entry Clear entry View general journal b. Assume the same facts above and that there is a $12 fiscal-year-end unadjusted credit balance in the Allowance for Sales Discounts. Prepare the June 30 fiscal-year-end adjusting journal entry for future sales discounts. View transaction list Journal entry worksheet Record the expected sales discounts. Note: Enter debits before credits. General Journal Debit Credit Date June 30
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