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Presented below is information from Coronado Computers Incorporated. July 1 Sold $11,000 of computers to Whispering Company with terms 4/15,n/60. Coronado uses the gross method
Presented below is information from Coronado Computers Incorporated. July 1 Sold $11,000 of computers to Whispering Company with terms 4/15,n/60. Coronado uses the gross method to record cash discounts. 10 Coronado received payment from Whispering for the full amount owed from the July 1 transaction. 17 Sold $146,200 in computers and peripherals to The Clark Store with terms of 4/10,n/30. 30 The Clark Store paid Coronado for its purchase of July 17. Prepare the necessary journal entries for Coronado Computers. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.)
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