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December 22 Sold merchandise on account, $14,800, with terms 2/10, net 30. The cost of the goods sold was $9,620 Received payment within the discount

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December 22 Sold merchandise on account, $14,800, with terms 2/10, net 30. The cost of the goods sold was $9,620 Received payment within the discount period December 31 Required: Jourmalize the above merchandise transactions. The company uses the perpetual inventory system. Refer to the Chart of Accounts for exact wording of account titles Chart of Accounts CHART OF ACCOUNTS

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