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On September 12, Vander Company sold merchandise in the amount of $6,100 to Jepson Company, with credit terms of 2/10,n/30. The cost of the items
On September 12, Vander Company sold merchandise in the amount of $6,100 to Jepson Company, with credit terms of 2/10,n/30. The cost of the items sold is $4,300. 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: Multiple Choice 6,100 Sales Accounts receivable 6,100 6,100 6,100 Sales Accounts receivable cost of goods sold Merchandise Inventory 4,300 4,300 6,100 Accounts receivable Sales 6,100 O 6,100 6,100 Accounts receivable Sales cost of goods sold Merchandise Inventory 4,300 4,300 Accounts receivable 4,300 Sales 4,300
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