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On September 1, Sonny sold 10 disco balls to Cher for $800 on account. The terms of the contract are 2/10, n/30. Sonny uses the
On September 1, Sonny sold 10 disco balls to Cher for $800 on account. The terms of the contract are 2/10, n/30. Sonny uses the gross method to account for sales discounts. Cher paid the bill on September 5. Sonny's journal entry on September 5 would include which of the following? O Debit: Sales returns for $16 Credit: Sales discounts forfeited for $16 Credit: Accounts receivable for $784 Debit: Sales discounts for $16
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