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1 February, 04:17

Jan's Jams makes a credit sale for $300 with terms of 2/10, n/30. The cost of the merchandise is $200. The required journal entry to record the sale and the cost of the sale is:

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  1. 1 February, 05:46
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    The complete journal entry would be:

    Account Debit Credit

    Sales Revenue $300

    Accounts Receivable $300

    Cost of Goods Sold $200

    Merchandise $200
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