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Give the journal entry to record the credit sale

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Scott's Cycles sells merchandise on credit terms of 2/15, n/30. A sale invoiced at $1,500 (cost of sales $975) was made to Shannon Allen on February 1. The company uses the gross method of recording sales discounts.

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Problem 1. Give the journal entry to record the credit sale. Assume use of the perpetual inventory system

Reference no: EM132756007

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