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Journalize the following entries for the seller and the buyer: (a) Seller sold merchandise on account to the buyer, $4,750, terms 2/10, net 30, FOB

Journalize the following entries for the seller and the buyer:

(a) Seller sold merchandise on account to the buyer, $4,750, terms 2/10, net 30, FOB destination on December 21. The cost of the merchandise is $2,850. The seller pays the freight of $75.

(b) Buyer pays within the discount period on December 31.

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