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Don Ltd which is in Australia buys smartphones from Obama Ltd which is in America , under FOB terminal terms. These smartphones costs $58,000 and

Don Ltd which is in Australia buys smartphones from Obama Ltd which is in America, under FOB terminal terms. These smartphones costs $58,000 and the freight charges are $10,000.

Required:

1. Record double entry under FOB terminal for both thebuyer and seller. (6 marks)

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