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Business, 16.04.2020 23:21 ugtguytu8528

On April 2, Kelvin sold $40,000 of inventory items on credit with the terms 1/10, n/30. Payment on $24,000 sales was received on April 8 and the remaining payment on $16,000 sales was received on April 27.

Assuming Kelvin uses the net method of accounting for sales discounts, the entry recorded on April 27 would include a:

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On April 2, Kelvin sold $40,000 of inventory items on credit with the terms 1/10, n/30. Payment on $...
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