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Dave Gabel provides tax services for small businesses. This year's tax season has proved especially lucrative for Dave; he earned $65,000 for providing his services.
Dave Gabel provides tax services for small businesses. This year's tax season has proved especially lucrative for Dave; he earned $65,000 for providing his services. Dave uses terms of 1/10,n/30 in billing his customers. Required: 1. Prepare the necessary journal entries to record the sale, assuming Dave does not expect his customers to pay within the discount period. If an amount box does not require an entry, leave it blank. 2. Prepare the necessary journal entries to record collection of the receivable assuming the customer pays within 10 days. If an amount box does not require an entry, leave it blank. 3. Prepare the necessary journal entries to record collection of the receivable assuming the customer pays after 10 days. If an amount box does not require an entry, leave it blank
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