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On April 1, Moloney Meat Distributors sold merchandise on account to Fronke's Franks for $3,690 on Invoice 1001, terms 1/10, n/30. The cost of merchandise
On April 1, Moloney Meat Distributors sold merchandise on account to Fronke's Franks for $3,690 on Invoice 1001, terms 1/10, n/30. The cost of merchandise sold was $2,380. Payment was received in full from Fronke's Franks, less discount, on April 10.
Record the transactions for Moloney Meat Distributors on April 1 and April 10. The company uses the perpetual inventory system.(Round final answers to the nearest whole dollar value.)
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