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QUESTION 3 Nice Co. offers its customers 5/10, n/30 terms. Smart Co. purchases $10,000 of goods from Nice. Co on March 31st. The goods are

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QUESTION 3 Nice Co. offers its customers 5/10, n/30 terms. Smart Co. purchases $10,000 of goods from Nice. Co on March 31st. The goods are delivered the same day. On May 2nd, Smart Co. pays off their purchase with cash. Nice Co. uses the net method of accounting. Provide the journal entries for March 31st and May 2nd

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