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On April 1, Moloney Meat Distributors sold merchandise on account to Fronkes Franks for $3,590 on Invoice 1001, terms 1/10, n/30. The cost of merchandise
On April 1, Moloney Meat Distributors sold merchandise on account to Fronkes Franks for $3,590 on Invoice 1001, terms 1/10, n/30. The cost of merchandise sold was $2,180. Payment was received in full from Fronkes 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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