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On September 12, Vander Company sold merchandise in the amount of $6,300 to Jepson Company, with credit terms of 4/10, 1/30. The cost of the
On September 12, Vander Company sold merchandise in the amount of $6,300 to Jepson Company, with credit terms of 4/10, 1/30. The cost of the items sold is $4,500. 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: (8 0227:31 Multiple Choice Sales Accounts receivable 6,300 6,300 Sales Accounts receivable Cost of goods sold Merchandise Inventory 6,308 4,500 4.500 Saved Help Save & Exit Submit 6,300 Accounts receivable Sales 6,300 6,300 6,300 Accounts receivable Sales Cost of goods sold Merchandise Inventory 4,500 4,500 4.50 Accounts receivable Sales 4,500
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