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Culver Co. uses the net method to account for cash discounts. on june 1, 2017, it made sales of $58, 700 with terms 3/15, n/45.

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Culver Co. uses the net method to account for cash discounts. on june 1, 2017, it made sales of $58, 700 with terms 3/15, n/45. On june 12, 2017, culver received full payment for the june 1 sale. prepare the required journal entries for culver Co. (If no entry is required, select "No Entry" for the account titles and enter O 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.)

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