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The collection of a $7700 account within the 2 percent discount period will result in a debit to Accounts Receivable for $7546 debit to Sales

The collection of a $7700 account within the 2 percent discount period will result in a debit to Accounts Receivable for $7546 debit to Sales Discounts for \$154. credit to Accounts Receivable for $7546. credit to Cash for $7546

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