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On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the

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On September 12, Ryan Company sold merchandise in the amount of $5,800 to Johnson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,000. Ryan uses the periodic inventory system and the net method of accounting for sales. The journal entry or entries that Ryan will make on September 12 is (are) Sales 5,800 Accounts receivable 5,800 Accounts receivable 5,684 Sales 5,684 Cost of goods sold 4,000 Merchandise Inventory 4,000 Accounts receivable 5,800 Sales 5,800 Accounts receivable 5,800 Sales 5,800 COSt ot goods Sold 4,000 Merchandise inventory 4,000 Accounts receivable 5,684 Sales 5,684

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