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Use the gross method of accounting for sales discounts

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Reference no: EM13511412

On January 16, two credit sales were made, one for $200 and one for $300. Terms for both sales were 3/15, n/30. Cash for the $200 sale was collected on January 25; cash for the $300 sale was collected on February 14. Make all journal entries necessary to record both the sales and the cash collections. Use the gross method of accounting for sales discounts.

Reference no: EM13511412

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