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how to solve? During the months of January and February, Solitare Corporation sold goods to two customers. The sequence of events was as follows: January
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During the months of January and February, Solitare Corporation sold goods to two customers. The sequence of events was as follows: January 6 Sold goods for $150 to Wizard Incorporated with teras 2/30,n/60. The goods cost Solitare $80. January 6 sold goods to Spyder Corporation for $100 with terms 5/10,n/60. The goods cost solitare $70. January 14 Collected cash for the amount due from Wizard Incorporated. February 28 collected cash for the amount due from Spyder Corporation. Required: Prepare journal entries to record the transactions, assuming Solitare records discounts using the gross method in a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the sales on account of $150 to Wizard Incorporated on terms 2/10, n/30. Note: Enter debits before credits Step by Step Solution
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