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Business, 19.10.2021 16:30 Justadumbemo
On February 3, Smart Company sold merchandise in the amount of $4,500 to Kennedy Company, with credit terms of 1/10, n/30. The cost of the items sold is $3,100. Smart uses the perpetual inventory system and the gross method. Kennedy pays the invoice on February 8 and takes the appropriate discount. The journal entry that Smart makes on February 8 is:
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On February 3, Smart Company sold merchandise in the amount of $4,500 to Kennedy Company, with credi...
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