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Complete the journal entries for the following transactions: On August 1, 2019XYZ Company sold merchandise on account for $25,000 with a cost of $15,000 using

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Complete the journal entries for the following transactions: On August 1, 2019XYZ Company sold merchandise on account for $25,000 with a cost of $15,000 using the perpetual inventory system, with the terms 2/10,n/30. There are two entries which includes first a to Accounts Receivable for On August 7, 2019, XYZ Company received payment from the customer. The entry would include a debit to for another debit to

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