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On January 6, Aaron Co. sells merchandise on account to Foley Inc. for $11,000, terms 4/10, n/30. On January 16, Foley pays the amount due.

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On January 6, Aaron Co. sells merchandise on account to Foley Inc. for $11,000, terms 4/10, n/30. On January 16, Foley pays the amount due. Prepare the entries on Aaron Co.'s books to record the sale and related collection assuming Aaron Co. maintains periodic inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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