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Ipatiy [6.2K]
3 years ago
6

On April 1, Moloney Musical Instruments sold merchandise on account to Fronke's Flutes for $7,000 on Invoice 1001, terms 2/10, n

/30. Payment was received in full from Fronke's Flutes, less discount, on April 10.
Business
1 answer:
Eduardwww [97]3 years ago
3 0

Answer:

The question is <em>"Record the transactions on April 1 and April 10. View transaction list Journal entry worksheet Record the sale on April 1."</em>

Date     Account Title and Explanation       Debit         Credit

April 1    Account receivables                      $7,000

                  Sales revenue                                               $7,000

April 10.  Cash  ($7,000*98%)                       $6,860

                     Sales discount ($7,000*2%)                        $140

                     Account receivables                                     $7,000

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