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On September 12, Vander Company sold merchandise in the amount of $6,600 to Jepson Company, with credit terms of 3/10, n/30. The cost of the
On September 12, Vander Company sold merchandise in the amount of $6,600 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,800. Vander uses the periodic inventory system and the gross method of accounting for sales. The journal entry or entries that Vander will make on September 12 is (are): Multiple Choice 6,600 Sales Accounts receivable 6,600 6,600 6,600 Sales Accounts receivable Cost of goods sold Merchandise Inventory 4,800 4,800 6,600 Accounts receivable Sales 6,600 6,600 Accounts receivable Sales 6,600 6,600 6,600 Accounts receivable Sales Cost of goods sold Merchandise Inventory 4,800 4,800 4,800 Accounts receivable Sales 4,800
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