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Illustration: On June 3, Bolton Company sold to Arquette Company merchandise having a sale price of 2,000 with terms of 2/10,n/60. On June 12, the

Illustration: On June 3, Bolton Company sold to Arquette Company merchandise having a sale price of 2,000 with terms of 2/10,n/60. On June 12, the company received a check for the balance due from Arquette Company. Prepare the journal entries on Bolton Company books to record the sale assuming Bolton records sales using the gross method

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