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Sheffield Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $600900 (cost
Sheffield Company sells goods to Danone Inc. by accepting a note receivable on January 2, 2020. The goods have a sales price of $600900 (cost of $460000). The term are net 30. If Danone pays within 5 days however it receives as cash discount of $10900. past history indicate thta the cash discount will be taken On January 28, 2020 Danone makes payment to Sheffield for the full sales price. Prepare the journal entries to record the sale and related
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