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On June 30, Petrov Co. has $132 100 of accounts receivable. July 4 sold $7,630 of merchandise (that had cost $4,883) to customers on credit.
On June 30, Petrov Co. has $132 100 of accounts receivable. July 4 sold $7,630 of merchandise (that had cost $4,883) to customers on credit. 9 sold S18, 494 of accounts receivable to Main Bank. Main charges a 5% factoring 27 Borrowed S10,568 cash from Main Bank, pledging $13,738 of accounts receivable Prepare journal entries to record the above selected July transactions. (The company uses the perpetual inventory sy 17 Received $4, 197 cash from customers in payment on their accounts. for the loan. entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 6 Sold $7,630 of merchandise to customers on credit. Note: Enter debits before credits. Debit Credit Date July 04
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