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The collection of a $7900 account within the 1 percent discount period will result in a credit to Cash for $7821. debit to Sales Discounts

The collection of a $7900 account within the 1 percent discount period will result in a credit to Cash for $7821. debit to Sales Discounts for $79. credit to Accounts Receivable for $7821. debit to Accounts Receivable for $7821

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