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Question 5 of 20 Page 5 of 20 Question 5 Roy & Co. sold goods to Joy & Co. on account for $20,000 on 31

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Question 5 of 20 Page 5 of 20 Question 5 Roy & Co. sold goods to Joy & Co. on account for $20,000 on 31" May 2020. Terms of payment are 4/7: n/30. Joy & Co paid to Roy & Co on 7th June 2020. What is journal entry on 31st May 2020? b OOOO Debit AR (Roy & Co) $20,000 Credit Sales Income $20,000 Debit Sales Income $20,000 Credit AR (Roy & Co) $20,000 Debit AR (Joy & Co) $20,000 Credit Sales Income $20,000 Debit AP (Roy & Co) $20,000 Credit Purchase $20,000 d

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