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fillowing merchandise transactions occurred during December. Fiasco Incorporated uses a perpetual ine system. - On December 15 , Fiasco Inc. sold merchandise costing $160,000 to

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fillowing merchandise transactions occurred during December. Fiasco Incorporated uses a perpetual ine system. - On December 15 , Fiasco Inc. sold merchandise costing $160,000 to Triple D Ranch for $280,000, term 1/10,n/30. - On December 24, Fiasco Inc. received payment from Triple D Ranch. REQUIRED: Prepare the journal entries to record these transactions on the books of Fiasco Incorporated

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