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On May 1 , Your Company sold merchandise in the amount of $15,500, with credit terms of 3/10,n/30. The cost of the items sold is

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On May 1 , Your Company sold merchandise in the amount of $15,500, with credit terms of 3/10,n/30. The cost of the items sold is $9,000. Your Company uses the perpetual inventory system. You received payment on May 18. Which journal entry records the May 18 transaction

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