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On March 25, Osgood Company sold merchandise on account, $10,000, terms n/30. The applicable sales tax percentage is 7.5%. The cost of merchandise sold is

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On March 25, Osgood Company sold merchandise on account, $10,000, terms n/30. The applicable sales tax percentage is 7.5%. The cost of merchandise sold is $5, 950. Required: Record the transaction. Refer to the Chart of Accounts for exact wording of account titles

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