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On March 1, Lincoln sold merchandise on account to Novak Company for $27,300, terms 1/10 net 45. On March 6, Novak returns merchandise with a

On March 1, Lincoln sold merchandise on account to Novak Company for $27,300, terms 1/10 net 45. On March 6, Novak returns merchandise with a sales price of 3,000. On March 11, Lincoln receives payment from Novak for the balance due. Prepare journal entries to record the March transactions on Lincoln's books. ( You may ignore cost of goods sold entries and explanations.)

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