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Long Corporation is a fabric manufacturing company. On January 20, Long made sales to Lyndsays Lace in the amount of $15,000 with terms of 2/10,

Long Corporation is a fabric manufacturing company. On January 20, Long made sales to Lyndsays Lace in the amount of $15,000 with terms of 2/10, n/30. Lyndsays paid Long on January 28. Assume Long records accounts receivable and sales using the net price method.

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