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Concord Couses the gross method to record sales made on credit. On June 1, 2020, it made sales of $59,000 with terms 4/15.6/45. On June
Concord Couses the gross method to record sales made on credit. On June 1, 2020, it made sales of $59,000 with terms 4/15.6/45. On June 12, 2020, Concord received full payment for the June 1 sale. Prepare the required journal entries for Concord Co. (if no entry is required, select "No Entry" for the account titles and enter for the amounts Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Tities and Explanation Debit Credit June 1 Accounts Recevable 59000 Sales Revenue 59000 June 12 Cash Sales Discounts Accounts Receivable 59000
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