Social Studies, 21.02.2020 00:08 jayy1474

On March 12, Klein Company sold merchandise in the amount of $7,800 to Babson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Klein uses the perpetual inventory system and the gross method of accounting for sales. The journal entry or entries that Klein will make on March 12 is:Sales 7,800 Accounts receivable 7,800Sales 7,800 Accounts receivable 7,800Cost of goods sold 4,500 Merchandise Inventory 4,500Accounts receivable 7,800 Sales 7,800Accounts receivable 7,800 Sales 7,800Cost of goods sold 4,500 Merchandise inventory 4,500Accounts receivable 4,500 Sales 4,500

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On March 12, Klein Company sold merchandise in the amount of $7,800 to Babson Company, with credit t...

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