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Journalize the following merchandise transactions. The company uses the perpetual inventory system. a. Sold merchandise on account, $12,500 with terms 2/10, net 30. The cost
Journalize the following merchandise transactions. The company uses the perpetual inventory system. a. Sold merchandise on account, $12,500 with terms 2/10, net 30. The cost of the goods sold was $8,125. If an amount box does not require an entry, leave it blank. b. Received payment within the discount period. If an amount box does not require an entry, leave it blank
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