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Presented below are transactions related to Flounder Company. 1. On December 3, Flounder Company sold $716,000 of merchandise to Maris Co., terms 1/10, n/30, FOB
Presented below are transactions related to Flounder Company. 1. On December 3, Flounder Company sold $716,000 of merchandise to Maris Co., terms 1/10, n/30, FOB shipping point. 2. On December 8, Maris Co. was granted an allowance of $23,000 for merchandise purchased on December 3. 3. On December 13, Flounder Company received the balance due from Maris Co. Dronno No Date Account Titles and Explanation Debit Credit DECI Accounts lloceivable 210,000 Sales Revenue 716,000 2 Dec cost of Goods sold 27,000 Inventory 21,000 3. Dec 13 Sales Discounts Accounts Receivable Assume that Flounder Company received the balance due from Maris Co. on January 2 of the follow payment on January 2. (Credit account titles are automatically indented when the amount for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work
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