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If someone could assist me with answering this question WITH STEPS it would be highly appreciated. I am trying to figure out how to do
If someone could assist me with answering this question WITH STEPS it would be highly appreciated. I am trying to figure out how to do these types of questions so the more steps the better. Thank you for your time!
Transactions for Buyer and Seller Slevert Co. sold merchandise to Angelleti Co, on account, $8,500, terms 2/15, n/30. The cost of merchandise sold is $5,100. Assume all discounts are taken. Journalize Sievert Co.'s entries for (a) the sale on account and (b) the collection of the amount due. (al Accounts Receivable-Angelleti Co. Sales Cost of Merchandise Sold 5,100 Merchandise Inventory 5,100 (b) Cash Accounts Receivable-Angelleti Co. Journalize Angelleti Co.'s entries for (a) the purchase of merchandise on account and (b) the payment of the amount due. (al Merchandise Inventory Accounts Payable-Sievert Co. (b) Accounts Payable-Slevert Co. CashStep by Step Solution
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