Question
Vaughn plc uses the gross method to record sales made on credit. On June 1, 2022, it made sales of 57,000 with terms 2/15,
Vaughn plc uses the gross method to record sales made on credit. On June 1, 2022, it made sales of 57,000 with terms 2/15, n/45. On June 12, 2022, Vaughn received full payment for the June 1 sale. Prepare the required journal entries for Vaughn plc. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
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