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On September 12, Vander Company sold merchandise in the amount of $7,400 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 $7,400 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,800. Jepson uses the periodic inventory system and the gross method of accounting for purchases. The journal entry that Jepson will make on September 12 is

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