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The Dollar Company sold $20,000 of inventory to the Cent Company for $30,000 on account on 3/1/18. Terms 6/10, n/30. Cent took advantage of the
The Dollar Company sold $20,000 of inventory to the Cent Company for $30,000 on account on 3/1/18. Terms 6/10, n/30. Cent took advantage of the discount for half of their liability and paid the reminder within the 30 day term. Assume they use the net method. Record all journal entries. 7 A BI FI T. Account Debit Credit
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