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On May 1, Kermit sold a tiara to Miss Piggy for $5,000 on account. The terms of the contract are 2/10,n/30. Kermit uses the net
On May 1, Kermit sold a tiara to Miss Piggy for $5,000 on account. The terms of the contract are 2/10,n/30. Kermit uses the net method to account for sales discounts. Miss Piggy paid the bill on May 8. Kermit's journal entry on May 8 would include which of the following? Credit: Sales revenue for $4,900 Credit: Accounts receivable for $5,000 O Credit: Sales discounts forfeited for $100 Credit: Accounts receivable for $4,900
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