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On March 1st Billy's Books sells goods with a retails price of $1,000 to Books Online. The terms of deal are 3/15, n/45. Assume Billy's

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On March 1st Billy's Books sells goods with a retails price of $1,000 to Books Online. The terms of deal are 3/15, n/45. Assume Billy's Books uses the gross method to accounts for cash discounts on sales. Please provide the journal entry Bill's Books will record on March 1st: Dr. Accounts Receivable $970 Dr. Sales Discount $30 Cr. Sales Revenue $1,000 Dr. Accounts Receivable $1,000 Cr. Sales Revenue $1,000 Dr. Accounts Receivable $1,000 Cr. Sales Discount $30 Cr. Sales Revenue $970

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