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November 13. Sold inventory on credit terms of 2/15, n/45, for $164,000, less a $16,400 quantity discount offered to customers who purchased in large quantities
November 13. Sold inventory on credit terms of 2/15, n/45, for $164,000, less a $16,400 quantity discount offered to customers who purchased in large quantities (cost, $98,400). This transaction requires two entries. Begin with the sales entry Journal Entry Date Nov Accounts 13 Accounts Receivable Inventory Debit Credit Clear all Check
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