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Throughout Year 3, Peterson sold merchandise costing $30,000 to Silver at a price of $50,000. Silver sold 60% of the inventory by December 31, Year
Throughout Year 3, Peterson sold merchandise costing $30,000 to Silver at a price of $50,000. Silver sold 60% of the inventory by December 31, Year 3. Silver remitted payment to Peterson before year-end. Eliminating journal entry at December 31, Year 3
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