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Kings Co. LLC makes a sale of merchandise for $5,820 on credit with terms 1/15.n/45. The original cost of the merchandise to Kings is $3,770.
Kings Co. LLC makes a sale of merchandise for $5,820 on credit with terms 1/15.n/45. The original cost of the merchandise to Kings is $3,770. Record the sale and cost of goods sold below. Record the sales part first, then the cost of goods sold portion second (like in the PowerPoint), Accounts Debit Credit Accounts Receivable 5.761.80 Sales Revenue 5,761.80 Cost of Goods Sold 3,770 3.770 Inventory Based on the sale from the previous problem, record a sales return of $1,000 (original cost of merchandise $520). Record the sale portion first, then the cost of goods sold portion second. Accounts Debit Credit [Select) [Select) [ Select) Select] [Select) [Select [Select Select) Based on sale and sales return on the prior 2 problems, record the receipt of payment from the customer within the discount period (recall that the credit terms were 1/15, n/45). The original sale was for $5,820 and the return was for $1,000 Accounts Debit Credit Select) [Select) Select [ Select Select Select
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