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Journalize the following merchandise transactions: a. Sold merchandise on account, $92,500 with terms 1/10, n/30. The cost of the goods sold was $55,500. Sale Accounts
Journalize the following merchandise transactions: a. Sold merchandise on account, $92,500 with terms 1/10, n/30. The cost of the goods sold was $55,500. Sale Accounts Receivable 92,500 X Sales 92,500 x Cost Cost of Goods Sold 55,500 Inventory 55,500 b. Received payment less the discount.
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